Valmont Industries, Inc. $VMI Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 20.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,602 shares of the industrial products company’s stock after selling 1,191 shares during the quarter. Ritholtz Wealth Management’s holdings in Valmont Industries were worth $1,839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Community Bank N.A. purchased a new position in Valmont Industries during the 3rd quarter worth $25,000. Elyxium Wealth LLC purchased a new stake in shares of Valmont Industries in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Valmont Industries in the fourth quarter valued at about $27,000. Leonteq Securities AG acquired a new position in shares of Valmont Industries during the fourth quarter worth about $30,000. Finally, State of Wyoming purchased a new position in Valmont Industries during the fourth quarter worth about $34,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company’s stock.

Valmont Industries Trading Down 2.6%

Shares of Valmont Industries stock opened at $568.55 on Friday. The company has a 50-day moving average of $518.41 and a two-hundred day moving average of $460.83. Valmont Industries, Inc. has a 12-month low of $321.21 and a 12-month high of $585.71. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market cap of $11.04 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping the consensus estimate of $4.72 by $0.79. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.32 EPS. On average, research analysts anticipate that Valmont Industries, Inc. will post 22.83 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, June 26th. Valmont Industries’s payout ratio is presently 17.10%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings raised Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Wall Street Zen cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $573.75.

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.