Truist Financial Corp purchased a new position in Valmont Industries, Inc. (NYSE:VMI – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 896 shares of the industrial products company’s stock, valued at approximately $246,000.
A number of other institutional investors have also recently made changes to their positions in VMI. Wellington Management Group LLP bought a new position in Valmont Industries during the fourth quarter valued at approximately $21,669,000. Vanguard Group Inc. raised its position in Valmont Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company’s stock worth $490,407,000 after purchasing an additional 54,189 shares during the period. Banque Cantonale Vaudoise lifted its stake in Valmont Industries by 1,606.7% in the first quarter. Banque Cantonale Vaudoise now owns 2,031 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 1,912 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC boosted its position in Valmont Industries by 5.0% during the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 2,631 shares of the industrial products company’s stock valued at $584,000 after buying an additional 126 shares during the period. Finally, F&V Capital Management LLC grew its stake in shares of Valmont Industries by 1.2% during the first quarter. F&V Capital Management LLC now owns 19,612 shares of the industrial products company’s stock valued at $4,477,000 after buying an additional 230 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.
Valmont Industries Stock Performance
Shares of VMI stock opened at $305.22 on Friday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 40.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. Valmont Industries, Inc. has a one year low of $188.63 and a one year high of $312.61. The company’s 50-day moving average is $285.09 and its 200 day moving average is $266.32.
Valmont Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, September 27th. Valmont Industries’s payout ratio is 31.62%.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, DA Davidson increased their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $332.50.
Read Our Latest Stock Report on Valmont Industries
Insider Activity at Valmont Industries
In related news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now owns 3,685 shares in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Valmont Industries Profile
Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.
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