Valmont Industries, Inc. $VMI Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its holdings in Valmont Industries, Inc. (NYSE:VMI) by 20.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,602 shares of the industrial products company’s stock after selling 1,191 shares during the period. Ritholtz Wealth Management’s holdings in Valmont Industries were worth $1,839,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VMI. Community Bank N.A. acquired a new position in shares of Valmont Industries during the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in Valmont Industries during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Valmont Industries during the 4th quarter valued at $27,000. Leonteq Securities AG purchased a new position in Valmont Industries during the fourth quarter worth $30,000. Finally, State of Wyoming acquired a new position in shares of Valmont Industries in the fourth quarter worth $34,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Trading Down 2.6%

Shares of Valmont Industries stock opened at $568.55 on Friday. Valmont Industries, Inc. has a fifty-two week low of $321.21 and a fifty-two week high of $585.71. The firm has a market cap of $11.04 billion, a PE ratio of 31.57, a P/E/G ratio of 1.31 and a beta of 1.34. The business’s fifty day moving average is $518.41 and its two-hundred day moving average is $460.83. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.79. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.32 earnings per share. Analysts anticipate that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, June 26th. Valmont Industries’s dividend payout ratio is presently 17.10%.

Analyst Ratings Changes

VMI has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Wall Street Zen cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the stock an “outperform” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valmont Industries currently has an average rating of “Buy” and a consensus price target of $573.75.

Insider Activity

In related news, Director Mogens C. Bay sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director directly owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.42% of the company’s stock.

Valmont Industries Company Profile

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.