Danske Bank A S Makes New Investment in Valmont Industries, Inc. $VMI

Danske Bank A S acquired a new stake in shares of Valmont Industries, Inc. (NYSE:VMI) during the 2nd quarter, Holdings Channel reports. The fund acquired 17,900 shares of the industrial products company’s stock, valued at approximately $10,339,000.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Valmont Industries in the second quarter worth about $1,141,369,000. Norges Bank bought a new position in Valmont Industries in the 4th quarter worth approximately $99,799,000. AQR Capital Management LLC boosted its stake in Valmont Industries by 118.8% in the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock worth $108,884,000 after purchasing an additional 153,418 shares during the period. Bank of New York Mellon Corp purchased a new stake in Valmont Industries during the 2nd quarter valued at approximately $83,723,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Valmont Industries by 179.6% during the second quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company’s stock valued at $38,320,000 after buying an additional 75,377 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of VMI stock opened at $486.94 on Friday. Valmont Industries, Inc. has a 1-year low of $360.41 and a 1-year high of $585.71. The stock’s 50-day moving average is $524.20 and its 200 day moving average is $485.67. The company has a market cap of $9.40 billion, a P/E ratio of 18.96, a PEG ratio of 1.10 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $4.88 earnings per share. The firm’s revenue 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 fiscal year.

Valmont Industries Dividend Announcement

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 paid 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 (DPR) is 11.99%.

Analyst Ratings Changes

VMI has been the subject of several research reports. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised 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. Zacks Research downgraded Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus upped their price objective on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $587.00.

Insider Buying and Selling at Valmont Industries

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

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.