Several institutional investors have changed their positions in Valmont Industries (VMI) recently. Wellington Management Group bought $21.7 million worth of shares in the last quarter. Vanguard Group increased its stake by 2.6%, now owning over 2.1 million shares valued at $490.4 million. Banque Cantonale Vaudoise raised its stake by 1,606.7%, owning 2,031 shares worth $464,000. Allen Mooney & Barnes Investment Advisors increased its position by 5%, holding 2,631 shares valued at $584,000. F&V Capital Management raised its stake by 1.2%, owning 19,612 shares worth $4.5 million. Overall, institutional investors own 87.84% of the company.
Valmont Industries Stock Performance
VMI shares opened at $305.22. The company has a market cap of $6.16 billion and a P/E ratio of 40.21. Valmont has a debt-to-equity ratio of 0.69, a quick ratio of 1.63, and a current ratio of 2.53. The 52-week range for the stock is $188.63 to $312.61, with a 50-day moving average of $285.09 and a 200-day moving average of $266.32.
Valmont Industries reported earnings of $4.76 per share for the quarter, beating estimates of $4.04. Revenue for the quarter was $1.04 billion, slightly lower than the expected $1.06 billion. Analysts predict EPS of 16.76 for the current fiscal year.
Dividend Announcement
The company declared a quarterly dividend of $0.60, paid on October 15, 2023, to shareholders on record as of September 27. This indicates an annual dividend yield of 0.79% with a payout ratio of 31.62%.
Analyst Ratings
StockNews.com upgraded Valmont Industries from “buy” to “strong buy” on August 12. Stifel Nicolaus raised its target price to $325, while DA Davidson adjusted it to $340. The stock has a consensus rating of “Buy” with an average target price of $332.50.
Insider Activity
CFO Timothy P. Francis sold 2,300 shares for $686,527 on July 30. He now owns 9,471 shares valued at approximately $2.8 million. Director Theodor Werner Freye sold 1,600 shares for about $480,192. Company insiders own 2% of the stock.
Company Profile
Valmont Industries manufactures products for infrastructure and agriculture markets in various countries, including the U.S., Australia, and Brazil. Its segments encompass Infrastructure and Agriculture, producing steel and composite structures for electrical and transportation applications.
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