Gibbs Wealth Management Increases Stake in Valmont Industries, Inc. $VMI

Gibbs Wealth Management lifted its position in Valmont Industries, Inc. (NYSE:VMI) by 186.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,880 shares of the industrial products company’s stock after acquiring an additional 1,224 shares during the quarter. Gibbs Wealth Management’s holdings in Valmont Industries were worth $751,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC raised its position in Valmont Industries by 225.1% in the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock worth $19,300,000 after purchasing an additional 46,825 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Valmont Industries by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock valued at $16,873,000 after buying an additional 4,676 shares during the period. Empowered Funds LLC purchased a new position in shares of Valmont Industries during the first quarter valued at approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Valmont Industries by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after buying an additional 2,639 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Valmont Industries by 223.4% during the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after buying an additional 105 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VMI. Oppenheimer set a $600.00 price target on Valmont Industries and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Weiss Ratings raised Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Stifel Nicolaus increased their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Wall Street Zen upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Zacks Research lowered shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Valmont Industries currently has a consensus rating of “Moderate Buy” and an average price target of $587.00.

Valmont Industries Price Performance

Shares of VMI stock opened at $486.07 on Friday. The company has a market capitalization of $9.44 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.12 and a beta of 1.33. The company’s 50-day simple moving average is $538.15 and its two-hundred day simple moving average is $478.27. Valmont Industries, Inc. has a one year low of $353.41 and a one 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 1.59.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.34. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.88 earnings per share. As a group, equities analysts anticipate that Valmont Industries, Inc. will post 22.96 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, June 26th. Valmont Industries’s dividend payout ratio (DPR) is presently 11.99%.

About Valmont Industries

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.