OP Asset Management Ltd Buys New Position in Valmont Industries, Inc. $VMI

OP Asset Management Ltd purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 38,948 shares of the industrial products company’s stock, valued at approximately $15,562,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VMI. Congress Asset Management Co. increased its stake in Valmont Industries by 14.1% in the fourth quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock valued at $34,336,000 after purchasing an additional 10,518 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Valmont Industries in the 3rd quarter worth about $1,749,000. Dakota Wealth Management acquired a new stake in Valmont Industries in the 4th quarter worth about $581,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Valmont Industries by 6,762.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company’s stock valued at $3,562,000 after buying an additional 8,724 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Valmont Industries by 882.8% during the 3rd quarter. Schroder Investment Management Group now owns 98,962 shares of the industrial products company’s stock valued at $37,829,000 after acquiring an additional 88,893 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Stock Performance

Shares of NYSE:VMI opened at $563.89 on Thursday. The firm has a market capitalization of $10.95 billion, a PE ratio of 31.31, a P/E/G ratio of 1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.59. The business has a 50-day moving average of $512.21 and a two-hundred day moving average of $458.90. Valmont Industries, Inc. has a 12 month low of $318.77 and a 12 month high of $583.54.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, beating the consensus estimate of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. During the same period in the previous year, the company posted $4.32 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, June 26th. Valmont Industries’s payout ratio is 17.10%.

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the business’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 sale, the director directly owned 112,309 shares in the company, valued at $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on VMI. JPMorgan Chase & Co. increased their price objective on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Weiss Ratings lowered shares of Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Stifel Nicolaus increased their price target on shares of Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average 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.