OP Asset Management Ltd Buys Shares of 38,948 Valmont Industries, Inc. $VMI

OP Asset Management Ltd bought a new stake in Valmont Industries, Inc. (NYSE:VMI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 38,948 shares of the industrial products company’s stock, valued at approximately $15,562,000. OP Asset Management Ltd owned 0.20% of Valmont Industries at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VMI. Community Bank N.A. acquired a new position in shares of Valmont Industries during the third quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in Valmont Industries during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Valmont Industries during the 4th quarter worth approximately $27,000. Leonteq Securities AG purchased a new position in shares of Valmont Industries during the 4th quarter worth approximately $30,000. Finally, State of Wyoming acquired a new stake in shares of Valmont Industries in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $563.89 on Thursday. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $512.21 and its 200 day moving average price is $458.90. Valmont Industries, Inc. has a 52 week low of $318.77 and a 52 week high of $583.54. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.31 and a beta of 1.34.

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

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, June 26th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.5%. Valmont Industries’s dividend payout ratio is presently 17.10%.

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the sale, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. This represents a 13.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VMI shares. Oppenheimer set a $600.00 price target on Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Weiss Ratings cut Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus upped their price target on shares of Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.75.

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.