Kingsview Wealth Management LLC Purchases Shares of 7,086 Valmont Industries, Inc. $VMI

Kingsview Wealth Management LLC purchased a new stake in Valmont Industries, Inc. (NYSE:VMI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,086 shares of the industrial products company’s stock, valued at approximately $2,851,000.

A number of other institutional investors have also modified their holdings of the company. Allen Capital Group LLC grew its holdings in shares of Valmont Industries by 2.2% during the 4th quarter. Allen Capital Group LLC now owns 1,130 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 24 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Valmont Industries by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,565 shares of the industrial products company’s stock worth $2,933,000 after purchasing an additional 29 shares during the period. Wedmont Private Capital grew its holdings in shares of Valmont Industries by 5.6% during the 4th quarter. Wedmont Private Capital now owns 582 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 31 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Valmont Industries by 0.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,223 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 32 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Valmont Industries by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 459 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the transaction, the director directly owned 112,309 shares of the company’s stock, valued at $55,294,213.06. This represents a 13.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

VMI has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on Valmont Industries from $497.00 to $541.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings upgraded Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. boosted their target price on Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Oppenheimer set a $600.00 target price on Valmont Industries and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $525.25.

Valmont Industries Stock Down 1.0%

NYSE VMI opened at $519.42 on Friday. The stock has a market cap of $10.08 billion, a PE ratio of 28.84 and a beta of 1.36. Valmont Industries, Inc. has a fifty-two week low of $310.00 and a fifty-two week high of $535.32. The business has a 50 day moving average price of $460.83 and a two-hundred day moving average price of $440.09. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.Valmont Industries’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.32 EPS. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 22.83 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries’s dividend payout ratio is currently 17.10%.

Valmont Industries 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.