Perigon Wealth Management LLC Takes $2.20 Million Position in Valmont Industries, Inc. $VMI

Perigon Wealth Management LLC acquired a new position in Valmont Industries, Inc. (NYSE:VMI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,812 shares of the industrial products company’s stock, valued at approximately $2,202,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Valmont Industries in the 4th quarter worth approximately $99,799,000. AQR Capital Management LLC lifted its position in Valmont Industries by 118.8% in 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 last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Valmont Industries during the second quarter valued at approximately $83,723,000. Qube Research & Technologies Ltd boosted 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. Finally, Corient Private Wealth LLC grew its holdings in shares of Valmont Industries by 980.4% in the fourth quarter. Corient Private Wealth LLC now owns 78,040 shares of the industrial products company’s stock worth $31,397,000 after purchasing an additional 70,817 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Activity

In related news, Director Theodor Werner Freye sold 800 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the transaction, the director directly owned 2,805 shares of the company’s stock, valued at $1,388,475. This represents a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John L. Schwietz acquired 208 shares of the stock in a transaction on Thursday, July 23rd. The stock was bought at an average price of $486.14 per share, with a total value of $101,117.12. Following the completion of the acquisition, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VMI has been the topic of several analyst reports. Wall Street Zen downgraded shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Stifel Nicolaus raised their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a research report on Thursday, May 28th. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $587.00.

Valmont Industries Price Performance

Shares of Valmont Industries stock opened at $507.26 on Tuesday. The business has a 50 day moving average of $527.79 and a 200 day moving average of $484.84. Valmont Industries, Inc. has a 52 week low of $360.41 and a 52 week high of $585.71. The company has a market cap of $9.80 billion, a PE ratio of 19.75, a P/E/G ratio of 1.13 and a beta of 1.35. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.34. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.88 earnings per share. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 23.08 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s payout ratio is currently 11.99%.

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.