Fifth Third Bancorp Purchases 10,764 Shares of Valmont Industries, Inc. $VMI

Fifth Third Bancorp raised its position in Valmont Industries, Inc. (NYSE:VMI) by 271.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,729 shares of the industrial products company’s stock after purchasing an additional 10,764 shares during the quarter. Fifth Third Bancorp owned 0.08% of Valmont Industries worth $5,885,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VMI. Elyxium Wealth LLC purchased a new position in Valmont Industries during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Valmont Industries in the fourth quarter worth $27,000. Leonteq Securities AG purchased a new stake in Valmont Industries in the fourth quarter worth $30,000. State of Wyoming bought a new stake in shares of Valmont Industries during the fourth quarter worth $34,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Valmont Industries during the first quarter valued at $37,000. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VMI shares. JPMorgan Chase & Co. upped their price target on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. 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. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Valmont Industries currently has an average rating of “Buy” and an average price target of $573.75.

Insider Activity

In other news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the transaction, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.

Valmont Industries Stock Performance

Shares of Valmont Industries stock opened at $538.28 on Friday. The firm has a market cap of $10.45 billion, a P/E ratio of 29.89, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a 12 month low of $329.21 and a 12 month high of $585.71. The stock’s fifty day moving average price is $539.13 and its 200-day moving average price is $474.65.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $994.85 million. During the same period in the prior year, the firm earned $4.32 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect 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 was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, June 26th. Valmont Industries’s dividend payout ratio is presently 17.10%.

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.