Allspring Global Investments Holdings LLC Has $14.93 Million Position in Valmont Industries, Inc. $VMI

Allspring Global Investments Holdings LLC lowered its holdings in Valmont Industries, Inc. (NYSE:VMI) by 20.7% in the first quarter, Holdings Channel.com reports. The firm owned 36,721 shares of the industrial products company’s stock after selling 9,605 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Valmont Industries were worth $14,933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Millennium Management LLC grew its stake in Valmont Industries by 225.1% during the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock valued at $19,300,000 after acquiring an additional 46,825 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Valmont Industries by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock valued at $16,873,000 after purchasing an additional 4,676 shares in the last quarter. Empowered Funds LLC purchased a new position in Valmont Industries during the first quarter valued at approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Valmont Industries by 3.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after buying an additional 2,639 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Valmont Industries by 223.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity at Valmont Industries

In related 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 transaction of $8,615,950.00. Following the completion of the transaction, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VMI. Weiss Ratings raised shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Wall Street Zen raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Oppenheimer set a $600.00 price objective on Valmont Industries and gave the company an “outperform” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their target price on Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Finally, Stifel Nicolaus upped their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Valmont Industries presently has an average rating of “Buy” and an average target price of $582.00.

Key Valmont Industries News

Here are the key news stories impacting Valmont Industries this week:

• Positive Sentiment: Valmont beat second-quarter estimates, reporting EPS of $6.14 versus expectations of $5.76 and revenue of $1.12 billion versus $1.09 billion expected, suggesting solid operational performance. Article Title
• Positive Sentiment: The company raised full-year guidance, and commentary highlighted strong utility/infrastructure demand, which supports the long-term growth story for VMI. Article Title
• Neutral Sentiment: Analysts continued to frame the quarter as a mixed setup: strong utility growth and better earnings, but only a moderate increase to EPS guidance, which may have limited the upside reaction. Article Title
• Neutral Sentiment: Recent price-target updates remain constructive, including Stifel’s move to $678 and JP Morgan’s $600 target, indicating Wall Street still sees upside despite the pullback. Article Title
• Negative Sentiment: Shares fell as investors weighed lingering weakness in agriculture and softer telecommunications demand, which offset the strong headline earnings beat. Article Title
• Negative Sentiment: GuruFocus said VMI remains overvalued on its GF Value measure, reinforcing concerns that the stock may have gotten ahead of fundamentals. Article Title

Valmont Industries Price Performance

Shares of Valmont Industries stock opened at $506.10 on Wednesday. The firm has a fifty day simple moving average of $539.65 and a 200-day simple moving average of $477.08. 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 1-year low of $337.93 and a 1-year high of $585.71. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.21 and a beta of 1.33.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.34. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. During the same period last year, the business posted $4.88 EPS. On average, sell-side analysts expect that Valmont Industries, Inc. will post 22.82 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were paid a $0.77 dividend. The ex-dividend date was Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries’s 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.