Valmont Industries, Inc. $VMI Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Valmont Industries, Inc. (NYSE:VMI) by 1.6% in the 4th quarter, HoldingsChannel reports. The fund owned 156,250 shares of the industrial products company’s stock after selling 2,503 shares during the period. Bank of New York Mellon Corp’s holdings in Valmont Industries were worth $62,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VMI. Robert B. Daugherty Foundation bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $100,580,000. Norges Bank bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $99,799,000. Ninety One UK Ltd bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $66,103,000. AQR Capital Management LLC boosted its holdings in shares of Valmont Industries by 118.8% in the third quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after acquiring an additional 153,418 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Valmont Industries by 882.8% in the third quarter. Schroder Investment Management Group now owns 98,962 shares of the industrial products company’s stock valued at $37,829,000 after acquiring an additional 88,893 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Valmont Industries 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 value of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares in the company, valued at $55,294,213.06. This represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Valmont Industries Trading Down 0.6%

Valmont Industries stock opened at $532.47 on Wednesday. The company has a 50 day moving average price of $480.42 and a 200 day moving average price of $447.21. Valmont Industries, Inc. has a 52 week low of $316.56 and a 52 week high of $548.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 1.23 and a beta of 1.34.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $994.85 million. During the same quarter last year, the business posted $4.32 EPS. The company’s revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Valmont Industries, Inc. will post 22.83 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 dividend on an annualized basis and a yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is currently 17.10%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VMI shares. DA Davidson increased their price objective on shares of Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $525.25.

Valmont Industries Company 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.