Handelsbanken Fonder AB Cuts Stake in Valmont Industries, Inc. $VMI

Handelsbanken Fonder AB cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 21.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,194 shares of the industrial products company’s stock after selling 7,293 shares during the period. Handelsbanken Fonder AB’s holdings in Valmont Industries were worth $15,130,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Valmont Industries by 6,762.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 8,724 shares in the last quarter. Congruence Capital LLC purchased a new position in shares of Valmont Industries in the fourth quarter worth $15,011,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Valmont Industries by 3.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock worth $100,933,000 after buying an additional 9,130 shares during the last quarter. Leuthold Group LLC lifted its stake in shares of Valmont Industries by 983.7% during the fourth quarter. Leuthold Group LLC now owns 11,498 shares of the industrial products company’s stock worth $4,626,000 after buying an additional 10,437 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Valmont Industries during the fourth quarter valued at $1,785,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of VMI opened at $490.46 on Friday. The business’s 50-day moving average is $529.12 and its two-hundred day moving average is $484.07. The company has a market capitalization of $9.47 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.12 and a beta of 1.35. Valmont Industries, Inc. has a fifty-two week low of $360.41 and a fifty-two week high of $585.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.34. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $4.88 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts predict that Valmont Industries, Inc. will post 23.08 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, September 25th. Valmont Industries’s dividend payout ratio is currently 11.99%.

Insider Activity at Valmont Industries

In related news, Director Theodor Werner Freye sold 800 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the transaction, the director directly owned 2,805 shares in the company, valued at $1,388,475. The trade was a 22.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John L. Schwietz purchased 208 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were purchased at an average cost of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the acquisition, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at $1,454,530.88. This represents a 7.47% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Oppenheimer set a $600.00 price target on Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Wall Street Zen cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research downgraded Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Stifel Nicolaus upped their target price on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Valmont Industries has an average rating of “Moderate Buy” and an average price target of $587.00.

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.