K.J. Harrison & Partners Inc Acquires New Stake in Valmont Industries, Inc. $VMI

K.J. Harrison & Partners Inc acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,000 shares of the industrial products company’s stock, valued at approximately $402,000.

Several other hedge funds have also recently added to or reduced their stakes in VMI. Robert B. Daugherty Foundation acquired a new position in Valmont Industries in the 4th quarter valued at $100,580,000. Ninety One UK Ltd acquired a new position in Valmont Industries in the 4th quarter valued at $66,103,000. AQR Capital Management LLC raised its stake in Valmont Industries by 118.8% in the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after purchasing an additional 153,418 shares during the last quarter. Schroder Investment Management Group raised its stake in Valmont Industries by 882.8% in the 3rd quarter. Schroder Investment Management Group now owns 98,962 shares of the industrial products company’s stock valued at $37,829,000 after purchasing an additional 88,893 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Valmont Industries by 179.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company’s stock valued at $38,320,000 after purchasing an additional 75,377 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. DA Davidson increased their price objective on Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Zacks Research raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Wall Street Zen raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Stifel Nicolaus increased their price objective on Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Valmont Industries in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $500.33.

Valmont Industries Stock Down 2.7%

Shares of NYSE:VMI opened at $508.89 on Friday. The stock has a market cap of $9.88 billion, a P/E ratio of 28.26 and a beta of 1.36. 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, Inc. has a 52-week low of $304.48 and a 52-week high of $528.49. The business has a fifty day moving average of $435.69 and a two-hundred day moving average of $428.89.

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 business 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%.The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.32 EPS. On average, research analysts expect that Valmont Industries, Inc. will post 22.78 earnings per share for the current year.

Valmont Industries Announces Dividend

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

Insider Buying and Selling at Valmont Industries

In other 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 completion of the transaction, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. This represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

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.