Van ECK Associates Corp Purchases 1,703 Shares of Valmont Industries, Inc. $VMI

Van ECK Associates Corp increased its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,334 shares of the industrial products company’s stock after acquiring an additional 1,703 shares during the period. Van ECK Associates Corp owned about 0.09% of Valmont Industries worth $10,590,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Avalon Trust Co bought a new position in Valmont Industries during the 2nd quarter valued at about $22,958,000. Congruence Capital LLC acquired a new stake in shares of Valmont Industries during the fourth quarter worth approximately $15,011,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Valmont Industries by 3.7% during 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 in the last quarter. Leuthold Group LLC raised its stake in shares of Valmont Industries by 983.7% in the fourth quarter. Leuthold Group LLC now owns 11,498 shares of the industrial products company’s stock valued at $4,626,000 after acquiring an additional 10,437 shares during the last quarter. Finally, De Lisle Partners LLP acquired a new position in shares of Valmont Industries in the 2nd quarter worth approximately $13,180,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Valmont Industries

In related news, Director Theodor Werner Freye sold 800 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total transaction of $396,000.00. Following the sale, the director owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John L. Schwietz acquired 208 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average cost of $486.14 per share, for a total transaction of $101,117.12. Following the purchase, the chief financial officer directly owned 2,992 shares in the company, valued at $1,454,530.88. This trade represents a 7.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.42% of the company’s stock.

Valmont Industries Price Performance

Valmont Industries stock opened at $466.97 on Wednesday. The firm has a market capitalization of $9.02 billion, a P/E ratio of 18.18, a PEG ratio of 1.07 and a beta of 1.34. Valmont Industries, Inc. has a 1 year low of $360.41 and a 1 year high of $585.71. The business has a 50-day moving average of $511.57 and a 200-day moving average of $486.28. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42.

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

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 25th. This represents a $3.08 annualized dividend and a yield of 0.7%. Valmont Industries’s dividend payout ratio (DPR) is 11.99%.

Analysts Set New Price Targets

Several brokerages have issued reports on VMI. Stifel Nicolaus lifted their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.