Corient Private Wealth LP Takes Position in Valmont Industries, Inc. $VMI

Corient Private Wealth LP purchased a new position in Valmont Industries, Inc. (NYSE:VMI) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 27,221 shares of the industrial products company’s stock, valued at approximately $15,723,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Valmont Industries during the 2nd quarter valued at approximately $1,141,369,000. Bank of America Corp DE acquired a new position in shares of Valmont Industries in the 2nd quarter valued at approximately $175,408,000. Norges Bank acquired a new position in shares of Valmont Industries in the 4th quarter valued at approximately $99,799,000. AQR Capital Management LLC boosted its stake in shares of Valmont Industries by 118.8% during the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after buying an additional 153,418 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Valmont Industries during the 2nd quarter valued at approximately $83,723,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VMI. Zacks Research lowered shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Wall Street Zen downgraded shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Valmont Industries has a consensus rating of “Moderate Buy” and an average target price of $587.00.

Insider Buying and Selling at Valmont Industries

In other news, Director Theodor Werner Freye sold 800 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the transaction, the director directly owned 2,805 shares in the company, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John L. Schwietz purchased 208 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average cost of $486.14 per share, with a total value of $101,117.12. Following the completion of the acquisition, the chief financial officer directly owned 2,992 shares in the company, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.42% of the stock is owned by insiders.

Valmont Industries Trading Down 0.8%

NYSE:VMI opened at $476.92 on Friday. The company has a market cap of $9.21 billion, a PE ratio of 18.57, a P/E/G ratio of 1.09 and a beta of 1.35. The business’s 50 day moving average is $515.90 and its two-hundred day moving average is $486.31. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. Valmont Industries, Inc. has a 52 week low of $360.41 and a 52 week high of $585.71.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.34. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.88 EPS. On average, analysts predict that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s payout ratio is currently 11.99%.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.