Corient Private Wealth LLC Lowers Stake in Valmont Industries, Inc. $VMI

Corient Private Wealth LLC trimmed its holdings in Valmont Industries, Inc. (NYSE:VMI) by 46.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,901 shares of the industrial products company’s stock after selling 3,322 shares during the quarter. Corient Private Wealth LLC’s holdings in Valmont Industries were worth $1,574,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in VMI. Community Bank N.A. purchased a new stake in Valmont Industries during the 3rd quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Valmont Industries during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Valmont Industries during the fourth quarter worth approximately $27,000. Leonteq Securities AG acquired a new stake in shares of Valmont Industries during the fourth quarter worth $30,000. Finally, State of Wyoming purchased a new position in Valmont Industries in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on VMI. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Wall Street Zen cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $573.75.

Valmont Industries Stock Up 0.9%

VMI opened at $578.25 on Wednesday. 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 business’s fifty day moving average is $525.13 and its two-hundred day moving average is $463.35. Valmont Industries, Inc. has a one year low of $321.21 and a one year high of $585.71. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.32 and a beta of 1.34.

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

Valmont Industries Dividend Announcement

The business 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 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 dividend yield of 0.5%. Valmont Industries’s dividend payout ratio is currently 17.10%.

Insider Buying and Selling at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction dated 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 $55,294,213.06. This represents a 13.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is currently owned by insiders.

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.