Choreo LLC Purchases Shares of 815 Valmont Industries, Inc. (NYSE:VMI)

Choreo LLC acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 815 shares of the industrial products company’s stock, valued at approximately $220,000.

A number of other hedge funds have also made changes to their positions in VMI. Norges Bank purchased a new position in Valmont Industries during the 4th quarter worth approximately $49,526,000. Wellington Management Group LLP acquired a new stake in Valmont Industries during the 4th quarter worth approximately $21,669,000. Bank of New York Mellon Corp lifted 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 acquiring an additional 73,084 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Valmont Industries by 69.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 161,605 shares of the industrial products company’s stock worth $36,891,000 after acquiring an additional 65,970 shares during the period. Finally, Robeco Schweiz AG lifted its position in Valmont Industries by 65.2% during the 4th quarter. Robeco Schweiz AG now owns 150,855 shares of the industrial products company’s stock worth $35,226,000 after acquiring an additional 59,524 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VMI shares. DA Davidson increased their price objective on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus raised their price target on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $332.50.

Valmont Industries Stock Up 1.7 %

VMI opened at $284.34 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The business has a 50 day simple moving average of $281.23 and a 200-day simple moving average of $254.59. The stock has a market capitalization of $5.74 billion, a P/E ratio of 37.46 and a beta of 1.03. Valmont Industries, Inc. has a 12 month low of $188.63 and a 12 month high of $307.67.

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

Valmont Industries Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries 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 completion of the transaction, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the transaction, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the firm’s stock in a transaction 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 directly owns 9,471 shares of the company’s stock, 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 insiders.

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.