Bank of America Corp DE Grows Position in Valmont Industries, Inc. (NYSE:VMI)

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Bank of America Corp DE lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 44.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,956 shares of the industrial products company’s stock after buying an additional 16,252 shares during the period. Bank of America Corp DE owned approximately 0.24% of Valmont Industries worth $6,715,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in Valmont Industries by 359.5% in the second quarter. Wells Fargo & Company MN now owns 30,848 shares of the industrial products company’s stock worth $3,912,000 after purchasing an additional 24,134 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Valmont Industries by 64.1% in the second quarter. JPMorgan Chase & Co. now owns 67,412 shares of the industrial products company’s stock worth $8,317,000 after purchasing an additional 26,331 shares during the last quarter. Atria Investments LLC purchased a new position in Valmont Industries in the second quarter worth about $6,861,000. A.R.T. Advisors LLC boosted its position in Valmont Industries by 204.3% in the second quarter. A.R.T. Advisors LLC now owns 7,000 shares of the industrial products company’s stock worth $888,000 after purchasing an additional 4,700 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Valmont Industries by 4.6% in the second quarter. First Trust Advisors LP now owns 97,468 shares of the industrial products company’s stock worth $12,360,000 after purchasing an additional 4,292 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:VMI opened at $136.02 on Friday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.89 and a current ratio of 2.71. The stock’s 50-day simple moving average is $136.82 and its two-hundred day simple moving average is $129.65. Valmont Industries, Inc. has a 52-week low of $103.01 and a 52-week high of $146.46.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.14). Valmont Industries had a return on equity of 14.86% and a net margin of 3.61%. The firm had revenue of $700.90 million during the quarter, compared to analysts’ expectations of $725.44 million. During the same period in the previous year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that Valmont Industries, Inc. will post 8.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, September 26th. Valmont Industries’s dividend payout ratio (DPR) is currently 19.79%.

In other news, Director Daas Kaj Den sold 700 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $138.62, for a total value of $97,034.00. Following the transaction, the director now owns 11,678 shares of the company’s stock, valued at $1,618,804.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark C. Jaksich sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $137.19, for a total value of $1,028,925.00. Following the completion of the transaction, the vice president now directly owns 24,187 shares in the company, valued at approximately $3,318,214.53. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

VMI has been the topic of several research reports. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Zacks Investment Research cut Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $144.00 target price on the stock. in a research report on Saturday, July 27th. TheStreet raised Valmont Industries from a “c+” rating to a “b” rating in a research report on Monday, September 16th. Finally, DA Davidson dropped their target price on Valmont Industries to $155.00 in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $150.67.

Valmont Industries Profile

Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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