Y Intercept Hong Kong Ltd Increases Stock Position in Valmont Industries, Inc. $VMI

Y Intercept Hong Kong Ltd grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 671.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,959 shares of the industrial products company’s stock after purchasing an additional 13,889 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Valmont Industries were worth $6,377,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in Valmont Industries during the first quarter worth $171,000. MQS Management LLC raised its position in Valmont Industries by 54.1% in the first quarter. MQS Management LLC now owns 1,573 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 552 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Valmont Industries by 22.2% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,030 shares of the industrial products company’s stock valued at $1,211,000 after acquiring an additional 551 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Valmont Industries by 8.1% in the first quarter. Pictet Asset Management Holding SA now owns 3,127 shares of the industrial products company’s stock valued at $1,249,000 after acquiring an additional 233 shares during the period. Finally, ABN AMRO Bank N.V. purchased a new stake in shares of Valmont Industries during the 1st quarter worth $294,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Valmont Industries Trading Down 0.1%

Shares of VMI stock opened at $554.87 on Friday. Valmont Industries, Inc. has a fifty-two week low of $326.22 and a fifty-two week high of $585.71. The stock has a market cap of $10.77 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.28 and a beta of 1.33. The business has a fifty day simple moving average of $531.77 and a 200-day simple moving average of $465.88. 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 data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping the consensus estimate of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. During the same period in the previous year, the firm earned $4.32 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Valmont Industries, Inc. will post 22.83 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries’s dividend payout ratio is 17.10%.

Wall Street Analyst Weigh In

VMI has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. boosted their price objective on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. 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, Weiss Ratings raised shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $573.75.

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.