Hsbc Holdings PLC Invests $7.01 Million in Valmont Industries, Inc. $VMI

Hsbc Holdings PLC bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,178 shares of the industrial products company’s stock, valued at approximately $7,012,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VMI. Northwestern Mutual Wealth Management Co. acquired a new stake in Valmont Industries during the second quarter worth approximately $28,000. Elyxium Wealth LLC bought a new stake in shares of Valmont Industries during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Valmont Industries in the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC grew its position in shares of Valmont Industries by 179.2% in the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 43 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Valmont Industries during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

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

Valmont Industries Trading Down 0.8%

Shares of NYSE:VMI opened at $476.92 on Friday. The company has a market capitalization of $9.21 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.10 and a beta of 1.35. Valmont Industries, Inc. has a 1 year low of $360.41 and a 1 year high of $585.71. 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 business’s 50 day simple moving average is $515.90 and its 200 day simple moving average is $486.31.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $4.88 EPS. On average, research analysts anticipate that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.

Valmont Industries Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their target price on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Weiss Ratings cut shares of Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $587.00.

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.