Valmont Industries, Inc. $VMI Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Valmont Industries, Inc. (NYSE:VMI) by 94.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,360 shares of the industrial products company’s stock after buying an additional 24,400 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Valmont Industries worth $20,122,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Robert B. Daugherty Foundation acquired a new position in Valmont Industries during the 4th quarter worth approximately $100,580,000. Norges Bank acquired a new stake in Valmont Industries in the fourth quarter valued at approximately $99,799,000. Ninety One UK Ltd acquired a new stake in Valmont Industries in the fourth quarter valued at approximately $66,103,000. AQR Capital Management LLC raised its stake 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 during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Valmont Industries by 179.6% during the second quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company’s stock valued at $38,320,000 after purchasing an additional 75,377 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus raised their target price on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $587.00.

Insider Transactions at Valmont Industries

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

Valmont Industries Price Performance

Shares of VMI opened at $477.14 on Friday. Valmont Industries, Inc. has a 52 week low of $353.41 and a 52 week high of $585.71. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.05 and a beta of 1.33. The stock has a 50 day moving average of $536.27 and a 200-day moving average of $480.25.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.34. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $4.88 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Valmont Industries, Inc. will post 22.96 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th 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, September 25th. Valmont Industries’s dividend payout ratio 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.