Legal & General Group Plc Has $4.53 Million Position in Valmont Industries, Inc. (VMI)
Legal & General Group Plc increased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,657 shares of the industrial products company’s stock after acquiring an additional 2,746 shares during the period. Legal & General Group Plc owned approximately 0.13% of Valmont Industries worth $4,530,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of VMI. Global X Management Co. LLC increased its holdings in Valmont Industries by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 495 shares during the period. Riverhead Capital Management LLC increased its holdings in Valmont Industries by 85.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after acquiring an additional 599 shares during the period. Janney Montgomery Scott LLC increased its holdings in Valmont Industries by 0.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 8 shares during the period. Verity Asset Management Inc. increased its holdings in Valmont Industries by 8.1% during the 2nd quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock worth $238,000 after acquiring an additional 119 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in Valmont Industries during the 2nd quarter worth approximately $246,000. 85.26% of the stock is currently owned by institutional investors and hedge funds.
In other Valmont Industries news, VP Vanessa Kay Brown sold 3,059 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.74, for a total value of $525,352.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by insiders.
VMI has been the topic of a number of analyst reports. BidaskClub lowered shares of Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Boenning Scattergood reissued an “outperform” rating on shares of Valmont Industries in a research note on Tuesday, September 5th. Seaport Global Securities began coverage on shares of Valmont Industries in a research note on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $183.00 price target on shares of Valmont Industries in a research note on Tuesday, October 17th. Finally, Zacks Investment Research raised shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Valmont Industries has a consensus rating of “Hold” and a consensus target price of $174.25.
Valmont Industries, Inc. (VMI) opened at $163.85 on Wednesday. The company has a quick ratio of 2.53, a current ratio of 3.50 and a debt-to-equity ratio of 0.65. Valmont Industries, Inc. has a 12 month low of $135.95 and a 12 month high of $176.35. The company has a market cap of $3,720.00, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 2.31 and a beta of 1.06.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The company had revenue of $680.78 million during the quarter, compared to analysts’ expectations of $652.65 million. During the same period in the prior year, the firm earned $1.48 EPS. Valmont Industries’s quarterly revenue was up 11.6% on a year-over-year basis. sell-side analysts expect that Valmont Industries, Inc. will post 6.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.50 dividend on an annualized basis and a yield of 0.92%. Valmont Industries’s dividend payout ratio is presently 17.92%.
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Valmont Industries Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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