Wells Fargo & Company MN lifted its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 359.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,848 shares of the industrial products company’s stock after buying an additional 24,134 shares during the quarter. Wells Fargo & Company MN owned about 0.14% of Valmont Industries worth $3,912,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of VMI. Dimensional Fund Advisors LP increased its position in shares of Valmont Industries by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 594,541 shares of the industrial products company’s stock worth $65,963,000 after buying an additional 7,032 shares during the period. Geode Capital Management LLC grew its holdings in Valmont Industries by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 218,696 shares of the industrial products company’s stock worth $24,264,000 after purchasing an additional 7,541 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Valmont Industries by 206.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,116 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 752 shares during the period. Victory Capital Management Inc. acquired a new stake in Valmont Industries in the first quarter worth $373,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Valmont Industries by 3.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,423 shares of the industrial products company’s stock worth $966,000 after purchasing an additional 270 shares during the period. Institutional investors own 85.58% of the company’s stock.
A number of research firms have commented on VMI. TheStreet upgraded shares of Valmont Industries from a “c+” rating to a “b” rating in a report on Monday, September 16th. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Finally, Zacks Investment Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $144.00 price target for the company. in a report on Saturday, July 27th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $148.50.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.14). Valmont Industries had a net margin of 3.61% and a return on equity of 14.86%. The firm had revenue of $700.90 million for the quarter, compared to the consensus estimate of $725.44 million. During the same period in the previous year, the business earned $1.98 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Valmont Industries, Inc. will post 8.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 26th. Valmont Industries’s dividend payout ratio is 19.79%.
In other Valmont Industries news, VP Mark C. Jaksich sold 7,500 shares of Valmont Industries stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $137.19, for a total value of $1,028,925.00. Following the sale, the vice president now owns 24,187 shares of the company’s stock, valued at $3,318,214.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daas Kaj Den sold 700 shares of Valmont Industries stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $138.62, for a total transaction of $97,034.00. Following the completion of the sale, the director now directly owns 11,678 shares in the company, valued at approximately $1,618,804.36. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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