26,453 Shares in Valmont Industries, Inc. $VMI Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in Valmont Industries, Inc. (NYSE:VMI) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 26,453 shares of the industrial products company’s stock, valued at approximately $15,279,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VMI. BlackRock Inc. bought a new position in shares of Valmont Industries in the second quarter valued at approximately $1,141,369,000. Invesco Ltd. grew its holdings in Valmont Industries by 8.3% during the third quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company’s stock worth $164,009,000 after buying an additional 32,382 shares in the last quarter. Geode Capital Management LLC raised its position in Valmont Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company’s stock valued at $148,509,000 after buying an additional 12,480 shares during the last quarter. Sei Investments Co. lifted its stake in Valmont Industries by 3.1% during the 3rd quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company’s stock valued at $112,809,000 after acquiring an additional 8,715 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in 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 worth $108,884,000 after acquiring an additional 153,418 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VMI has been the subject of several analyst reports. Stifel Nicolaus increased their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target 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. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings lowered Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $587.00.

Valmont Industries Trading Up 0.1%

Shares of VMI stock opened at $476.92 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $515.90 and a 200-day moving average of $486.40. Valmont Industries, Inc. has a 12-month low of $360.41 and a 12-month high of $585.71. The firm has a market cap of $9.21 billion, a P/E ratio of 18.57, a PEG ratio of 1.09 and a beta of 1.35.

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

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s dividend payout ratio (DPR) is presently 11.99%.

Insider Activity

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

Valmont Industries 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.