Livforsakringsbolaget Skandia Omsesidigt Invests $4.34 Million in Valmont Industries, Inc. $VMI

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Valmont Industries, Inc. (NYSE:VMI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 7,500 shares of the industrial products company’s stock, valued at approximately $4,337,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VMI. BlackRock Inc. bought a new position in Valmont Industries during the 2nd quarter worth approximately $1,141,369,000. Bank of America Corp DE bought a new stake in shares of Valmont Industries in the 2nd quarter valued at $175,408,000. Norges Bank acquired a new stake in shares of Valmont Industries during the fourth quarter worth $99,799,000. AQR Capital Management LLC raised its stake in Valmont Industries by 118.8% during the third quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock worth $108,884,000 after buying an additional 153,418 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Valmont Industries in the second quarter valued at $83,723,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity at Valmont Industries

In related news, CFO John L. Schwietz purchased 208 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the acquisition, the chief financial officer owned 2,992 shares of the company’s stock, valued at $1,454,530.88. This represents a 7.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodor Werner Freye sold 800 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the sale, the director directly owned 2,805 shares of the company’s stock, valued at $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is owned by insiders.

Analysts Set New Price Targets

VMI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus raised their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings cut Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Valmont Industries has a consensus rating of “Moderate Buy” and an average price target of $587.00.

Valmont Industries Trading Down 0.8%

NYSE:VMI opened at $476.92 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. The firm has a 50-day moving average of $515.90 and a 200-day moving average of $486.31. The company has a market cap of $9.21 billion, a PE ratio of 18.57, a PEG ratio of 1.10 and a beta of 1.35. Valmont Industries, Inc. has a one year low of $360.41 and a one year high of $585.71.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.34. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.88 EPS. As a group, equities research analysts expect that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s payout ratio is presently 11.99%.

About Valmont Industries

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.