Valmont Industries (NYSE:VMI) Sets New 12-Month High – Here’s What Happened

Valmont Industries, Inc. (NYSE:VMI)’s share price hit a new 52-week high on Thursday . The stock traded as high as $452.10 and last traded at $442.3150, with a volume of 28731 shares. The stock had previously closed at $444.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VMI shares. DA Davidson boosted their price objective on Valmont Industries from $400.00 to $415.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus lifted their target price on Valmont Industries from $491.00 to $492.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Valmont Industries in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Valmont Industries presently has an average rating of “Moderate Buy” and an average price target of $462.33.

Valmont Industries Stock Performance

The stock has a market capitalization of $8.76 billion, a PE ratio of 38.31 and a beta of 1.20. The business’s fifty day moving average is $419.18 and its two-hundred day moving average is $394.80. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Valmont Industries

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its position in Valmont Industries by 225.1% in the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock worth $19,300,000 after buying an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Valmont Industries by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock valued at $16,873,000 after acquiring an additional 4,676 shares during the period. Empowered Funds LLC bought a new stake in shares of Valmont Industries in the 1st quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Valmont Industries by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock worth $20,692,000 after purchasing an additional 2,639 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Company 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.