K.J. Harrison & Partners Inc Makes New $578,000 Investment in Valmont Industries, Inc. $VMI

K.J. Harrison & Partners Inc bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,000 shares of the industrial products company’s stock, valued at approximately $578,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC grew its stake in Valmont Industries by 225.1% in the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock valued at $19,300,000 after acquiring an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 worth $16,873,000 after acquiring an additional 4,676 shares during the last quarter. Empowered Funds LLC acquired a new position in Valmont Industries during the first quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $20,692,000 after purchasing an additional 2,639 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings 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 valued at $43,000 after purchasing an additional 105 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Wall Street Zen cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus boosted their price target on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Zacks Research downgraded Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings lowered Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valmont Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.

Insiders Place Their Bets

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

Valmont Industries Stock Performance

Shares of VMI opened at $507.26 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.13 and a beta of 1.35. The company’s 50 day simple moving average is $527.79 and its 200 day simple moving average is $484.84. Valmont Industries, Inc. has a 1 year low of $360.41 and a 1 year high of $585.71.

Valmont Industries (NYSE:VMI) last announced its earnings results 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. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. Valmont Industries’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.88 earnings per share. On average, sell-side analysts predict that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Announces Dividend

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 dividend of $0.77 per share. The ex-dividend date is Friday, September 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is 11.99%.

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.