Gibbs Wealth Management Acquires 1,224 Shares of Valmont Industries, Inc. $VMI

Gibbs Wealth Management increased its holdings in Valmont Industries, Inc. (NYSE:VMI) by 186.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,880 shares of the industrial products company’s stock after purchasing an additional 1,224 shares during the period. Gibbs Wealth Management’s holdings in Valmont Industries were worth $751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VMI. Elyxium Wealth LLC purchased a new stake in Valmont Industries during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Valmont Industries in the fourth quarter worth $27,000. Leonteq Securities AG bought a new position in shares of Valmont Industries during the fourth quarter worth $30,000. State of Wyoming bought a new position in shares of Valmont Industries during the fourth quarter worth $34,000. Finally, V Square Quantitative Management LLC purchased a new position in Valmont Industries during the first quarter valued at $37,000. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. 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.com, Valmont Industries currently has an average rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Trading Down 0.5%

VMI stock opened at $486.07 on Friday. The firm has a fifty day moving average price of $538.15 and a 200 day moving average price of $478.27. Valmont Industries, Inc. has a fifty-two week low of $353.41 and a fifty-two week high of $585.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.59 and a current ratio of 2.35. The firm has a market cap of $9.44 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.33.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.34. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. Valmont Industries’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.88 earnings per share. Sell-side analysts anticipate that Valmont Industries, Inc. will post 22.96 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were issued a $0.77 dividend. The ex-dividend date was Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries’s payout ratio is 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.