Hsbc Holdings PLC Grows Stock Position in Valmont Industries, Inc. $VMI

Hsbc Holdings PLC boosted its holdings in Valmont Industries, Inc. (NYSE:VMI) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,469 shares of the industrial products company’s stock after acquiring an additional 877 shares during the period. Hsbc Holdings PLC’s holdings in Valmont Industries were worth $1,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Valmont Industries by 8.3% during the third quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company’s stock worth $164,009,000 after acquiring an additional 32,382 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Valmont Industries by 1.7% in the 3rd quarter. Earnest Partners LLC now owns 399,388 shares of the industrial products company’s stock valued at $154,855,000 after purchasing an additional 6,799 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Valmont Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company’s stock valued at $148,509,000 after purchasing an additional 12,480 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Valmont Industries by 3.1% during the 3rd quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company’s stock worth $112,809,000 after purchasing an additional 8,715 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Valmont Industries by 118.8% during the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock worth $108,884,000 after purchasing an additional 153,418 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $573.75.

Valmont Industries Price Performance

VMI stock opened at $571.44 on Tuesday. The business’s fifty day moving average price is $521.81 and its 200 day moving average price is $462.26. Valmont Industries, Inc. has a 12-month low of $321.21 and a 12-month high of $585.71. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.09 billion, a PE ratio of 31.73, a P/E/G ratio of 1.31 and a beta of 1.34.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.79. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.Valmont Industries’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $4.32 EPS. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 22.83 EPS for the current year.

Valmont Industries Dividend Announcement

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

Insider Activity at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the transaction, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.

About Valmont Industries

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.