MidFirst Bank Buys Shares of 1,153 Valmont Industries, Inc. $VMI

MidFirst Bank purchased a new stake in shares of Valmont Industries, Inc. (NYSE:VMI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,153 shares of the industrial products company’s stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VMI. Community Bank N.A. bought a new position in shares of Valmont Industries in the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in Valmont Industries during the fourth quarter valued at approximately $27,000. Leonteq Securities AG bought a new position in Valmont Industries in the fourth quarter worth approximately $30,000. State of Wyoming bought a new position in Valmont Industries in the fourth quarter worth approximately $34,000. Finally, Montag A & Associates Inc. boosted its stake in shares of Valmont Industries by 1,428.6% during the 4th quarter. Montag A & Associates Inc. now owns 107 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

VMI opened at $571.52 on Friday. The company has a 50 day simple moving average of $503.54 and a two-hundred day simple moving average of $455.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.59. The firm has a market cap of $11.09 billion, a P/E ratio of 31.73, a PEG ratio of 1.31 and a beta of 1.34. Valmont Industries, Inc. has a 1-year low of $316.56 and a 1-year high of $579.80.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating the consensus estimate of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $994.85 million. During the same period last year, the firm earned $4.32 EPS. The company’s revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Valmont Industries, Inc. will post 22.83 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.5%. Valmont Industries’s dividend payout ratio (DPR) is currently 17.10%.

Insider Activity at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the transaction, the director directly owned 112,309 shares in the company, valued at $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VMI has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer set a $600.00 target price on Valmont Industries and gave the company an “outperform” rating in a research report on Thursday, May 28th. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. Stifel Nicolaus upped their price target on Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings downgraded Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $573.75.

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.