MidFirst Bank Takes $464,000 Position in Valmont Industries, Inc. $VMI

MidFirst Bank bought a new position in Valmont Industries, Inc. (NYSE:VMI) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,153 shares of the industrial products company’s stock, valued at approximately $464,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. grew its stake in Valmont Industries by 8.3% during the third quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company’s stock valued at $164,009,000 after acquiring an additional 32,382 shares in the last quarter. Earnest Partners LLC lifted its stake in Valmont Industries by 1.7% in the 3rd quarter. Earnest Partners LLC now owns 399,388 shares of the industrial products company’s stock worth $154,855,000 after purchasing an additional 6,799 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Valmont Industries by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company’s stock valued at $148,509,000 after purchasing an additional 12,480 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Valmont Industries by 3.1% during the 3rd quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company’s stock valued at $112,809,000 after purchasing an additional 8,715 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Valmont Industries by 118.8% during the third quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after purchasing an additional 153,418 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

Valmont Industries stock opened at $571.52 on Friday. The company’s 50-day moving average price is $503.54 and its 200-day moving average price is $455.14. Valmont Industries, Inc. has a twelve month low of $316.56 and a twelve month high of $579.80. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The company has a market cap of $11.09 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34.

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

Valmont Industries Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.5%. Valmont Industries’s dividend payout ratio is 17.10%.

Insider Transactions at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction that occurred 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 completion of the transaction, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on VMI. Zacks Research raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings downgraded Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. Finally, Stifel Nicolaus increased their target price on Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $573.75.

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.