Federated Hermes Inc. Has $611,000 Holdings in Valmont Industries, Inc. (NYSE:VMI)

Federated Hermes Inc. decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 8.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,228 shares of the industrial products company’s stock after selling 216 shares during the period. Federated Hermes Inc.’s holdings in Valmont Industries were worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VMI. Vanguard Group Inc. raised its stake in shares of Valmont Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company’s stock valued at $490,407,000 after acquiring an additional 54,189 shares during the last quarter. Bank of New York Mellon Corp raised its position in Valmont Industries by 39.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock worth $71,040,000 after purchasing an additional 73,084 shares during the last quarter. First Trust Advisors LP lifted its holdings in Valmont Industries by 15.8% during the 4th quarter. First Trust Advisors LP now owns 227,578 shares of the industrial products company’s stock worth $53,142,000 after buying an additional 31,017 shares during the period. Norges Bank bought a new stake in shares of Valmont Industries in the 4th quarter valued at about $49,526,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Valmont Industries by 14.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock valued at $50,740,000 after buying an additional 23,275 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of VMI opened at $286.27 on Tuesday. The firm has a market cap of $5.78 billion, a PE ratio of 37.72 and a beta of 1.03. Valmont Industries, Inc. has a 52-week low of $188.63 and a 52-week high of $307.67. The business’s 50 day moving average price is $281.84 and its two-hundred day moving average price is $256.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53.

Valmont Industries (NYSE:VMI) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.72. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. On average, equities analysts anticipate that Valmont Industries, Inc. will post 16.76 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.84%. Valmont Industries’s dividend payout ratio is presently 31.62%.

Insider Activity at Valmont Industries

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares in the company, valued at approximately $1,105,942.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. DA Davidson upped their price objective on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Valmont Industries has a consensus rating of “Buy” and an average price target of $332.50.

Valmont Industries Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.