Macquarie Group Ltd. Buys Shares of 5,189 Valmont Industries, Inc. (VMI)
Macquarie Group Ltd. bought a new position in Valmont Industries, Inc. (NYSE:VMI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,189 shares of the industrial products company’s stock, valued at approximately $820,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Valmont Industries by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,869,447 shares of the industrial products company’s stock worth $279,669,000 after buying an additional 90,745 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Valmont Industries by 53.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 623,558 shares of the industrial products company’s stock worth $98,585,000 after buying an additional 215,893 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Valmont Industries by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 531,399 shares of the industrial products company’s stock worth $79,496,000 after buying an additional 18,865 shares during the period. Bank of New York Mellon Corp raised its position in shares of Valmont Industries by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 432,874 shares of the industrial products company’s stock worth $64,758,000 after buying an additional 19,215 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Valmont Industries by 10.3% in the 2nd quarter. Schroder Investment Management Group now owns 397,241 shares of the industrial products company’s stock worth $58,752,000 after buying an additional 37,242 shares during the period. 85.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Valmont Industries, Inc. (NYSE:VMI) traded down $0.65 during midday trading on Tuesday, reaching $163.00. The company had a trading volume of 81,700 shares, compared to its average volume of 121,304. Valmont Industries, Inc. has a 52-week low of $135.95 and a 52-week high of $176.35. The firm has a market cap of $3,690.00, a P/E ratio of 24.61, a P/E/G ratio of 2.42 and a beta of 1.06. The company has a current ratio of 3.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.65.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.04). Valmont Industries had a net margin of 5.39% and a return on equity of 12.97%. The company had revenue of $680.78 million during the quarter, compared to analyst estimates of $652.65 million. During the same quarter in the prior year, the company posted $1.48 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. equities analysts predict that Valmont Industries, Inc. will post 6.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.375 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.50 annualized dividend and a yield of 0.92%. Valmont Industries’s dividend payout ratio is currently 17.92%.
Several research analysts recently weighed in on VMI shares. Boenning Scattergood reaffirmed an “outperform” rating on shares of Valmont Industries in a research report on Tuesday, September 5th. Zacks Investment Research downgraded Valmont Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Seaport Global Securities started coverage on Valmont Industries in a report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price target for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $183.00 price target on shares of Valmont Industries in a report on Tuesday, October 17th. Finally, BidaskClub downgraded Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $174.25.
In related news, VP Vanessa Kay Brown sold 3,059 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.74, for a total value of $525,352.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by corporate insiders.
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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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