The Manufacturers Life Insurance Company Takes Position in Valmont Industries, Inc. $VMI

The Manufacturers Life Insurance Company bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,822 shares of the industrial products company’s stock, valued at approximately $9,716,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in Valmont Industries during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Valmont Industries during the 4th quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Valmont Industries during the second quarter worth approximately $28,000. Leonteq Securities AG acquired a new stake in shares of Valmont Industries during the 4th quarter worth approximately $30,000. Finally, State of Wyoming bought a new stake in Valmont Industries in the fourth quarter valued at $34,000. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on VMI shares. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings cut shares of Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. 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 Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $587.00.

Insider Buying and Selling at Valmont Industries

In other news, Director Theodor Werner Freye sold 800 shares of the stock in a transaction that occurred on 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 sale, the director owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. This represents a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John L. Schwietz purchased 208 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly 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 disclosure for this purchase is available in the SEC filing. Insiders own 1.42% of the company’s stock.

Valmont Industries Stock Down 0.8%

Shares of NYSE VMI opened at $476.92 on Friday. The business has a 50-day moving average of $515.90 and a 200-day moving average of $486.31. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.09 and a beta of 1.35. Valmont Industries, Inc. has a 12 month low of $360.41 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.

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, topping analysts’ consensus estimates of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $4.88 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed 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 is Friday, September 25th. Valmont Industries’s payout ratio is presently 11.99%.

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.