Handelsbanken Fonder AB Increases Holdings in Valmont Industries, Inc. $VMI

Handelsbanken Fonder AB raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 85.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 41,147 shares of the industrial products company’s stock after buying an additional 18,955 shares during the quarter. Handelsbanken Fonder AB’s holdings in Valmont Industries were worth $16,554,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VMI. Millennium Management LLC raised its stake in Valmont Industries by 225.1% during the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock valued at $19,300,000 after buying an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Valmont Industries by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock valued at $16,873,000 after buying an additional 4,676 shares during the last quarter. Empowered Funds LLC purchased a new position in Valmont Industries during the first quarter valued at $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Valmont Industries by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock worth $20,692,000 after purchasing an additional 2,639 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Valmont Industries by 223.4% in the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VMI shares. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. DA Davidson boosted their price target on Valmont Industries from $415.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Stifel Nicolaus boosted their price target on Valmont Industries from $497.00 to $541.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $500.33.

Valmont Industries Stock Up 2.6%

Valmont Industries stock opened at $503.81 on Thursday. The stock has a market cap of $9.78 billion, a PE ratio of 27.97 and a beta of 1.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38. Valmont Industries, Inc. has a one year low of $305.07 and a one year high of $528.49. The stock has a fifty day moving average of $446.31 and a 200 day moving average of $434.90.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.79. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.Valmont Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.32 earnings per share. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 22.78 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries’s dividend payout ratio is 17.10%.

Insider Buying and Selling

In related 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 transaction of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.42% of the company’s stock.

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.