Norges Bank Acquires New Stake in Valmont Industries, Inc. $VMI

Norges Bank acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 248,058 shares of the industrial products company’s stock, valued at approximately $99,799,000. Norges Bank owned approximately 1.26% of Valmont Industries at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Community Bank N.A. bought a new stake in Valmont Industries in the 3rd quarter valued at $25,000. Elyxium Wealth LLC bought a new stake in Valmont Industries in the 4th quarter valued at $27,000. Leonteq Securities AG acquired a new stake in Valmont Industries in the 4th quarter valued at $30,000. Abich Financial Wealth Management LLC acquired a new stake in Valmont Industries in the 3rd quarter valued at $36,000. Finally, Montag A & Associates Inc. increased its stake in Valmont Industries by 1,428.6% in the 4th quarter. Montag A & Associates Inc. now owns 107 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the transaction, the director directly owned 112,309 shares in the company, valued at $55,294,213.06. This represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.42% of the company’s stock.

Valmont Industries Stock Performance

Shares of VMI stock opened at $534.32 on Friday. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 1.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38. The company has a 50-day simple moving average of $474.89 and a 200 day simple moving average of $444.79. Valmont Industries, Inc. has a 52 week low of $316.56 and a 52 week high of $548.90.

Valmont Industries (NYSE:VMI) last announced its 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 during the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. Valmont Industries’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.32 EPS. On average, sell-side analysts predict that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries’s dividend payout ratio is 17.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VMI shares. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of Valmont Industries from $480.00 to $510.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. DA Davidson lifted their price target on shares of Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $525.25.

About Valmont Industries

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.