Fifth Third Bancorp Buys 10,764 Shares of Valmont Industries, Inc. $VMI

Fifth Third Bancorp boosted its position in Valmont Industries, Inc. (NYSE:VMI) by 271.5% in the first quarter, HoldingsChannel.com reports. The firm owned 14,729 shares of the industrial products company’s stock after acquiring an additional 10,764 shares during the period. Fifth Third Bancorp’s holdings in Valmont Industries were worth $5,885,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Millennium Management LLC lifted its position 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 acquiring an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Valmont Industries by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock worth $16,873,000 after purchasing an additional 4,676 shares during the last quarter. Empowered Funds LLC purchased a new position in Valmont Industries in the first quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Valmont Industries by 3.8% during 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 in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Valmont Industries by 223.4% during the 1st 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 during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Valmont Industries Trading Down 1.1%

NYSE:VMI opened at $538.28 on Friday. The company has a market capitalization of $10.45 billion, a P/E ratio of 29.89, a PEG ratio of 1.25 and a beta of 1.33. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a 12 month low of $329.21 and a 12 month high of $585.71. The firm has a fifty day simple moving average of $539.13 and a 200-day simple moving average of $474.65.

Valmont Industries (NYSE:VMI) last released 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. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.32 EPS. On average, equities research analysts anticipate that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Friday, June 26th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is currently 17.10%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Weiss Ratings raised Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Stifel Nicolaus increased their price target on Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Finally, JPMorgan Chase & Co. boosted their price target on Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Valmont Industries presently has an average rating of “Buy” and a consensus target price of $573.75.

Insider Transactions at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

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.