1,970 Shares in Valmont Industries, Inc. (NYSE:VMI) Bought by Private Advisor Group LLC

Posted by Defense World Staff on Sep 1st, 2023

Private Advisor Group LLC purchased a new position in Valmont Industries, Inc. (NYSE:VMI – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,970 shares of the industrial products company’s stock, valued at approximately $629,000.

Other institutional investors have also added to or reduced their stakes in the company. Cardinal Point Wealth Management Partners LLC bought a new stake in shares of Valmont Industries in the 1st quarter valued at about $272,000. Moran Wealth Management LLC lifted its position in Valmont Industries by 6.8% in the first quarter. Moran Wealth Management LLC now owns 18,328 shares of the industrial products company’s stock valued at $5,852,000 after purchasing an additional 1,160 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Valmont Industries by 31.8% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 849 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 205 shares during the period. Credit Suisse AG grew its holdings in shares of Valmont Industries by 2.0% in the first quarter. Credit Suisse AG now owns 44,670 shares of the industrial products company’s stock worth $14,262,000 after purchasing an additional 896 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Valmont Industries by 4,731.3% in the first quarter. Bessemer Group Inc. now owns 773 shares of the industrial products company’s stock worth $247,000 after buying an additional 757 shares during the period. 84.15% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

Shares of Valmont Industries stock opened at $253.49 on Friday. The company has a market cap of $5.33 billion, a PE ratio of 19.68, a P/E/G ratio of 1.36 and a beta of 1.08. The business has a 50 day moving average of $269.09 and a 200 day moving average of $287.74. Valmont Industries, Inc. has a 52 week low of $241.13 and a 52 week high of $353.36. The company has a quick ratio of 1.43, a current ratio of 2.41 and a debt-to-equity ratio of 0.57.

Valmont Industries (NYSE:VMI – Get Free Report) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $4.28 EPS for the quarter, topping the consensus estimate of $4.02 by $0.26. Valmont Industries had a net margin of 6.37% and a return on equity of 19.56%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.14 billion. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 15.37 earnings per share for the current year.

Valmont Industries Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 28th. Valmont Industries’s dividend payout ratio is currently 18.63%.

Wall Street Analyst Weigh In

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

Check Out Our Latest Research Report on VMI

About Valmont Industries

(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.