Gamco Investors INC. ET AL boosted its holdings in Valmont Industries, Inc. (NYSE:VMI – Get Rating) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,601 shares of the industrial products company's stock after purchasing an additional 15,086 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.68% of Valmont Industries worth $34,740,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Valmont Industries by 547.5% in the 1st quarter. JPMorgan Chase & Co. now owns 245,239 shares of the industrial products company's stock valued at $58,515,000 after buying an additional 207,367 shares during the period. Invesco Ltd. boosted its stake in Valmont Industries by 9.3% in the fourth quarter. Invesco Ltd. now owns 795,043 shares of the industrial products company's stock valued at $199,160,000 after acquiring an additional 67,951 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Valmont Industries by 33.5% during the first quarter. Artemis Investment Management LLP now owns 238,766 shares of the industrial products company's stock valued at $56,923,000 after purchasing an additional 59,902 shares during the last quarter. Eaton Vance Management raised its position in shares of Valmont Industries by 4,078.5% during the 1st quarter. Eaton Vance Management now owns 36,562 shares of the industrial products company's stock worth $8,724,000 after purchasing an additional 35,687 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Valmont Industries by 2.0% in the 1st quarter. BlackRock Inc. now owns 1,731,432 shares of the industrial products company's stock worth $413,120,000 after purchasing an additional 33,219 shares during the last quarter. Institutional investors own 88.60% of the company's stock.
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Analyst Upgrades and Downgrades
Several brokerages have weighed in on VMI. TheStreet raised Valmont Industries from a "c+" rating to a "b+" rating in a research report on Thursday, August 25th. Stifel Nicolaus cut their price objective on shares of Valmont Industries from $300.00 to $267.00 in a research report on Monday, July 18th. Roth Capital assumed coverage on shares of Valmont Industries in a research report on Friday, June 3rd. They issued a "buy" rating and a $297.00 target price for the company. Finally, Northcoast Research started coverage on Valmont Industries in a report on Friday, July 15th. They set a "buy" rating and a $300.00 price target on the stock.
Valmont Industries Stock Performance
Shares of VMI opened at $281.15 on Wednesday. The firm has a market capitalization of $6.00 billion, a PE ratio of 27.89, a P/E/G ratio of 1.71 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 2.23 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $264.87 and a 200 day moving average price of $249.13. Valmont Industries, Inc. has a 52-week low of $203.30 and a 52-week high of $289.98.
Valmont Industries (NYSE:VMI – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.36. Valmont Industries had a net margin of 5.49% and a return on equity of 17.71%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1 billion. During the same period last year, the firm posted $3.06 earnings per share. The business's revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 13.86 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 23rd will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, September 22nd. This represents a $2.20 annualized dividend and a yield of 0.78%. Valmont Industries's dividend payout ratio is currently 21.83%.
Insider Buying and Selling
In other Valmont Industries news, SVP Timothy P. Francis sold 980 shares of the company's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $284.98, for a total value of $279,280.40. Following the completion of the sale, the senior vice president now directly owns 5,938 shares of the company's stock, valued at approximately $1,692,211.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Valmont Industries news, CEO Stephen G. Kaniewski sold 12,076 shares of Valmont Industries stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $269.41, for a total value of $3,253,395.16. Following the transaction, the chief executive officer now owns 43,844 shares in the company, valued at $11,812,012.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Timothy P. Francis sold 980 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $284.98, for a total value of $279,280.40. Following the sale, the senior vice president now owns 5,938 shares of the company's stock, valued at approximately $1,692,211.24. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Valmont Industries Company Profile
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Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. It operates through two segments: Infrastructure and Agriculture. The company manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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