Truist Financial Corp Invests $246,000 in Valmont Industries, Inc. (NYSE:VMI)

Truist Financial Corp acquired a new stake in shares of Valmont Industries, Inc. (NYSE:VMI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 896 shares of the industrial products company’s stock, valued at approximately $246,000.

Other hedge funds also recently bought and sold shares of the company. Mather Group LLC. raised its stake in shares of Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 103 shares in the last quarter. Quarry LP raised its position in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 134 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Valmont Industries in the 2nd quarter worth $52,000. Meeder Asset Management Inc. purchased a new stake in shares of Valmont Industries in the 1st quarter worth $66,000. Finally, First Horizon Advisors Inc. grew its position in shares of Valmont Industries by 58.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company’s stock worth $68,000 after buying an additional 91 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In other news, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the transaction, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Valmont Industries Stock Performance

Shares of Valmont Industries stock opened at $305.22 on Friday. The company has a market capitalization of $6.16 billion, a PE ratio of 40.21 and a beta of 1.02. The company has a 50-day simple moving average of $285.09 and a two-hundred day simple moving average of $266.32. Valmont Industries, Inc. has a one year low of $188.63 and a one year high of $312.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, topping the consensus estimate of $4.04 by $0.72. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. Research analysts expect that Valmont Industries, Inc. will post 16.76 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a $0.60 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. Valmont Industries’s payout ratio is 31.62%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VMI. Stifel Nicolaus lifted their price objective on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, July 18th. DA Davidson boosted their price target on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Valmont Industries presently has an average rating of “Buy” and an average target price of $332.50.

About Valmont Industries

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.