Valmont Industries, Inc. $VMI Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in Valmont Industries, Inc. (NYSE:VMI) by 28.2% during the second quarter, HoldingsChannel.com reports. The fund owned 12,178 shares of the industrial products company’s stock after acquiring an additional 2,681 shares during the period. Hsbc Holdings PLC’s holdings in Valmont Industries were worth $7,012,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new position in Valmont Industries in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Valmont Industries in the 4th quarter valued at $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Valmont Industries during the 2nd quarter worth $28,000. Leonteq Securities AG acquired a new stake in Valmont Industries during the 4th quarter worth $30,000. Finally, State of Wyoming purchased a new stake in shares of Valmont Industries during the fourth quarter worth $34,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, CFO John Schwietz bought 208 shares of Valmont Industries stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the transaction, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Theodor Freye sold 800 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. 1.42% of the stock is owned by company insiders.

Valmont Industries Stock Performance

Valmont Industries stock opened at $481.06 on Thursday. The firm has a 50 day simple moving average of $500.40 and a 200-day simple moving average of $486.87. Valmont Industries, Inc. has a 1-year low of $361.50 and a 1-year high of $585.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping 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 net margin of 11.70% and a return on equity of 25.57%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.88 EPS. On average, analysts expect that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on VMI. Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings upgraded Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Wall Street Zen lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Stifel Nicolaus increased their price target on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Valmont Industries has an average rating of “Moderate Buy” and a consensus price target of $587.00.

About Valmont Industries

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.