PNC Financial Services Group Inc. Has $461,000 Position in Valmont Industries, Inc. (NYSE:VMI)

PNC Financial Services Group Inc. boosted its holdings in Valmont Industries, Inc. (NYSE:VMI) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,616 shares of the industrial products company’s stock after acquiring an additional 78 shares during the period. PNC Financial Services Group Inc.’s holdings in Valmont Industries were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its position in shares of Valmont Industries by 395.1% in the fourth quarter. Quarry LP now owns 203 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 162 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Valmont Industries by 82.3% during the 1st quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company’s stock worth $64,000 after buying an additional 102 shares during the period. Signaturefd LLC grew its stake in Valmont Industries by 23.9% in the 1st quarter. Signaturefd LLC now owns 270 shares of the industrial products company’s stock valued at $77,000 after buying an additional 52 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Valmont Industries in the 1st quarter valued at about $90,000. Finally, First Horizon Advisors Inc. lifted its position in Valmont Industries by 19.1% during the first quarter. First Horizon Advisors Inc. now owns 392 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on VMI shares. DA Davidson upped their target price on Valmont Industries from $380.00 to $400.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. William Blair upgraded Valmont Industries from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 23rd. Wall Street Zen lowered Valmont Industries from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $345.00 to $382.00 and gave the stock a “buy” rating in a research report on Monday, July 21st.

Valmont Industries Stock Performance

Shares of NYSE:VMI opened at $380.52 on Thursday. Valmont Industries, Inc. has a 12-month low of $250.07 and a 12-month high of $384.09. The company’s 50 day moving average price is $341.87 and its two-hundred day moving average price is $322.67. The firm has a market cap of $7.51 billion, a PE ratio of 35.43 and a beta of 1.12. The company has a quick ratio of 1.44, a current ratio of 2.15 and a debt-to-equity ratio of 0.48.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.10. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Valmont Industries had a return on equity of 22.10% and a net margin of 5.98%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.91 earnings per share. Equities research analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, September 26th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Valmont Industries’s payout ratio is 25.33%.

Insider Buying and Selling

In other Valmont Industries news, CAO Timothy P. Francis sold 2,867 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $358.52, for a total transaction of $1,027,876.84. Following the sale, the chief accounting officer directly owned 9,746 shares in the company, valued at $3,494,135.92. This represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% 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.