First Trust Advisors LP boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 25.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,391 shares of the industrial products company’s stock after buying an additional 22,413 shares during the quarter. First Trust Advisors LP owned 0.50% of Valmont Industries worth $15,428,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. UBS Group AG raised its position in Valmont Industries by 6.5% in the first quarter. UBS Group AG now owns 10,368 shares of the industrial products company’s stock valued at $1,517,000 after purchasing an additional 630 shares during the last quarter. Millennium Management LLC raised its position in Valmont Industries by 10.3% in the first quarter. Millennium Management LLC now owns 40,250 shares of the industrial products company’s stock valued at $5,889,000 after purchasing an additional 3,770 shares during the last quarter. Legal & General Group Plc raised its position in Valmont Industries by 5.9% in the first quarter. Legal & General Group Plc now owns 32,382 shares of the industrial products company’s stock valued at $4,738,000 after purchasing an additional 1,804 shares during the last quarter. Principal Financial Group Inc. raised its position in Valmont Industries by 3.1% in the first quarter. Principal Financial Group Inc. now owns 99,392 shares of the industrial products company’s stock valued at $14,542,000 after purchasing an additional 2,948 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Valmont Industries by 39.7% in the second quarter. State of Alaska Department of Revenue now owns 2,430 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 87.58% of the company’s stock.
In other news, SVP John A. Kehoe sold 3,059 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $137.50, for a total transaction of $420,612.50. Following the completion of the transaction, the senior vice president now directly owns 2,911 shares in the company, valued at $400,262.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.
Shares of VMI opened at $133.50 on Friday. Valmont Industries, Inc. has a 1 year low of $111.83 and a 1 year high of $176.35. The company has a quick ratio of 2.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.90 billion, a PE ratio of 19.15, a P/E/G ratio of 1.87 and a beta of 1.06.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.04. Valmont Industries had a return on equity of 14.39% and a net margin of 2.63%. The company had revenue of $678.63 million during the quarter, compared to the consensus estimate of $677.34 million. During the same period last year, the company earned $1.56 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, research analysts anticipate that Valmont Industries, Inc. will post 7.57 EPS for the current fiscal year.
Valmont Industries declared that its Board of Directors has initiated a share buyback program on Wednesday, October 31st that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.12%. Valmont Industries’s dividend payout ratio (DPR) is 21.52%.
Several equities analysts have commented on the company. ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Stifel Nicolaus increased their target price on Valmont Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Boenning Scattergood downgraded Valmont Industries from an “outperform” rating to a “neutral” rating in a research report on Friday, July 13th. Zacks Investment Research downgraded Valmont Industries from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Finally, TheStreet downgraded Valmont Industries from a “b-” rating to a “c+” rating in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $173.33.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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