Panagora Asset Management Inc. Lowers Position in Valmont Industries, Inc. $VMI

Panagora Asset Management Inc. cut its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,100 shares of the industrial products company’s stock after selling 6,182 shares during the period. Panagora Asset Management Inc.’s holdings in Valmont Industries were worth $23,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of VMI. Community Bank N.A. purchased a new position in Valmont Industries during the third quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in Valmont Industries during the fourth quarter valued at $27,000. Leonteq Securities AG purchased a new position in Valmont Industries during the fourth quarter valued at $30,000. State of Wyoming purchased a new position in Valmont Industries during the fourth quarter valued at $34,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Valmont Industries during the third quarter valued at $36,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

NYSE:VMI opened at $539.60 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.47 billion, a P/E ratio of 29.96, a P/E/G ratio of 1.26 and a beta of 1.34. Valmont Industries, Inc. has a 12 month low of $316.56 and a 12 month high of $558.73. The business’s 50-day moving average is $491.13 and its 200 day moving average is $451.08.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.32 earnings per share. On average, equities research analysts forecast that Valmont Industries, Inc. will post 22.83 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 Wednesday, July 15th. Investors of record on Friday, June 26th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries’s payout ratio is currently 17.10%.

Analysts Set New Price Targets

Several equities analysts have recently commented on VMI shares. Wall Street Zen upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 31st. Stifel Nicolaus boosted their price objective on Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. DA Davidson boosted their price objective on Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $525.25.

Insider Activity at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

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.