Valmont Industries, Inc. $VMI Stock Holdings Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in Valmont Industries, Inc. (NYSE:VMI) by 43.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,510 shares of the industrial products company’s stock after buying an additional 104,259 shares during the quarter. Pictet Asset Management Holding SA owned about 1.79% of Valmont Industries worth $159,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Valmont Industries during the 2nd quarter valued at approximately $28,000. Elevation Wealth Partners LLC raised its stake in Valmont Industries by 179.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 43 shares during the period. V Square Quantitative Management LLC bought a new stake in Valmont Industries during the 3rd quarter worth approximately $49,000. Root Financial Partners LLC bought a new stake in Valmont Industries during the 3rd quarter worth approximately $51,000. Finally, State of Wyoming lifted its holdings in Valmont Industries by 98.8% during the first quarter. State of Wyoming now owns 169 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 84 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Stock Performance

NYSE:VMI opened at $403.71 on Monday. The stock has a 50-day moving average price of $458.94 and a 200 day moving average price of $476.77. The stock has a market capitalization of $7.73 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.91 and a beta of 1.39. Valmont Industries, Inc. has a 12-month low of $378.02 and a 12-month high of $585.71. The company has a current ratio of 2.41, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.54. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm earned $4.98 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Valmont Industries, Inc. will post 23.33 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 24th will be given a dividend of $0.77 per share. The ex-dividend date is Thursday, December 24th. This represents a $3.08 annualized dividend and a dividend yield of 0.8%. Valmont Industries’s dividend payout ratio (DPR) is presently 11.43%.

Analyst Upgrades and Downgrades

VMI has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Weiss Ratings downgraded shares of Valmont Industries from a “buy (b)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $587.00.

Valmont Industries Profile

Valmont Industries designs and manufactures products used in infrastructure and agriculture. Founded in 1946, the company has grown from a maker of steel irrigation equipment into a global provider of engineered products and services.

Its infrastructure business supplies utility structures, poles and towers, lighting and traffic products, telecommunications structures, and protective coatings. These products support electric power, transportation, communications, and other infrastructure markets.

Valmont’s agriculture business focuses on mechanized irrigation systems, including center-pivot and linear-move equipment, along with related technology and services.