EDENTREE ASSET MANAGEMENT Ltd Trims Position in Valmont Industries, Inc. (NYSE:VMI)

EDENTREE ASSET MANAGEMENT Ltd lowered its stake in Valmont Industries, Inc. (NYSE:VMI) by 15.2% during the 2nd quarter, Holdings Channel reports. The firm owned 35,829 shares of the industrial products company’s stock after selling 6,427 shares during the quarter. Valmont Industries makes up about 3.1% of EDENTREE ASSET MANAGEMENT Ltd’s holdings, making the stock its 7th biggest position. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Valmont Industries were worth $9,828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in Valmont Industries during the fourth quarter valued at approximately $49,526,000. Trexquant Investment LP bought a new position in shares of Valmont Industries during the 4th quarter valued at approximately $393,000. Quest Partners LLC purchased a new position in shares of Valmont Industries in the fourth quarter valued at $105,000. Hsbc Holdings PLC increased its position in Valmont Industries by 11.8% in the fourth quarter. Hsbc Holdings PLC now owns 17,557 shares of the industrial products company’s stock worth $4,108,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Valmont Industries during the fourth quarter valued at $234,000. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the transaction, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson raised their price objective on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Valmont Industries presently has a consensus rating of “Buy” and a consensus price target of $332.50.

Valmont Industries Price Performance

Valmont Industries stock opened at $285.15 on Thursday. Valmont Industries, Inc. has a 12-month low of $188.63 and a 12-month high of $307.67. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $281.87 and a 200-day moving average price of $257.20. The firm has a market capitalization of $5.75 billion, a PE ratio of 37.57 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.72. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 16.76 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 31.62%.

Valmont Industries Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.