Ninety One UK Ltd Buys 8,651 Shares of Valmont Industries, Inc. $VMI

Ninety One UK Ltd boosted its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 198,650 shares of the industrial products company’s stock after acquiring an additional 8,651 shares during the quarter. Ninety One UK Ltd’s holdings in Valmont Industries were worth $91,971,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC lifted its stake in shares of Valmont Industries by 18.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,396 shares of the industrial products company’s stock valued at $1,123,000 after purchasing an additional 368 shares during the last quarter. GK Wealth Management LLC bought a new position in shares of Valmont Industries during the 3rd quarter valued at approximately $127,000. Wedmont Private Capital raised its holdings in Valmont Industries by 9.9% during the 3rd quarter. Wedmont Private Capital now owns 720 shares of the industrial products company’s stock valued at $337,000 after buying an additional 65 shares during the period. GAMMA Investing LLC raised its holdings in Valmont Industries by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 401 shares of the industrial products company’s stock valued at $186,000 after buying an additional 55 shares during the period. Finally, Elevation Wealth Partners LLC raised its holdings in Valmont Industries by 52.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 102 shares of the industrial products company’s stock valued at $47,000 after buying an additional 35 shares during the period. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Valmont Industries news, CFO John Schwietz bought 208 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average cost of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the transaction, the chief financial officer owned 2,992 shares in the company, valued at $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodor Freye sold 800 shares of Valmont Industries stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the sale, the director owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company’s stock.

Analyst Ratings Changes

VMI has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valmont Industries has an average rating of “Moderate Buy” and a consensus price target of $587.00.

Valmont Industries Trading Down 2.8%

Shares of NYSE VMI traded down $13.13 during midday trading on Thursday, hitting $452.20. The company’s stock had a trading volume of 96,029 shares, compared to its average volume of 195,261. Valmont Industries, Inc. has a 12-month low of $378.02 and a 12-month high of $585.71. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. The firm has a market cap of $8.73 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34. The business’s 50 day moving average is $477.75 and its two-hundred day moving average is $494.34.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.34. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business earned $4.88 EPS. Valmont Industries’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Valmont Industries, Inc. will post 23.03 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a yield of 0.7%. Valmont Industries’s dividend payout ratio (DPR) is presently 11.99%.

Valmont Industries Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services that support infrastructure, agriculture and industrial applications. Founded in 1946 and headquartered in Omaha, Nebraska, the company serves customers in North America and international markets.

Its infrastructure businesses produce utility poles and structures, towers, steel and aluminum structures, lighting and traffic-support systems, and other products used in electrical transmission and distribution, telecommunications, transportation and commercial development.