WealthPLAN Partners LLC Sells 26,221 Shares of Valmont Industries, Inc. (NYSE:VMI)

Posted by Defense World Staff on Aug 22nd, 2023

WealthPLAN Partners LLC lowered its stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 99.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96 shares of the industrial products company’s stock after selling 26,221 shares during the period. WealthPLAN Partners LLC’s holdings in Valmont Industries were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC increased its stake in Valmont Industries by 2,125.0% in the 1st quarter. Global Retirement Partners LLC now owns 89 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 85 shares during the period. Fred Alger Management LLC increased its stake in shares of Valmont Industries by 103.2% in the fourth quarter. Fred Alger Management LLC now owns 128 shares of the industrial products company’s stock worth $42,000 after buying an additional 65 shares during the period. Covestor Ltd raised its holdings in Valmont Industries by 347.4% during the 1st quarter. Covestor Ltd now owns 170 shares of the industrial products company’s stock valued at $41,000 after buying an additional 132 shares during the last quarter. Point72 Middle East FZE purchased a new stake in Valmont Industries during the 4th quarter valued at $58,000. Finally, Parallel Advisors LLC grew its holdings in Valmont Industries by 333.3% in the 1st quarter. Parallel Advisors LLC now owns 182 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 85.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VMI shares. StockNews.com initiated coverage on shares of Valmont Industries in a research note on Thursday, August 17th. They set a “buy” rating for the company. DA Davidson dropped their price objective on Valmont Industries from $310.00 to $290.00 and set a “neutral” rating for the company in a report on Monday, July 31st.

View Our Latest Analysis on VMI

Valmont Industries Trading Down 1.6 %

Shares of VMI opened at $248.61 on Tuesday. Valmont Industries, Inc. has a 1-year low of $241.13 and a 1-year high of $353.36. The company has a current ratio of 2.41, a quick ratio of 1.43 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $274.34 and its 200-day moving average price is $290.99. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.37 and a beta of 1.08.

Valmont Industries (NYSE:VMI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.26. Valmont Industries had a return on equity of 19.56% and a net margin of 6.37%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Sell-side analysts anticipate that Valmont Industries, Inc. will post 15.37 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, September 28th. Valmont Industries’s dividend payout ratio is presently 18.63%.

Valmont Industries Profile

(Free Report)

Valmont Industries, Inc produces and sells metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through two segments: Infrastructure and Agriculture. It manufactures and distributes steel, pre-stressed concrete, composite, and hybrid structures for lighting, transportation, and telecommunications equipment, as well as electrical transmission, distribution, substations, and renewable energy generation equipment; and provides coatings services to preserve metal products.