J. Safra Sarasin Holding AG Sells 2,317 Shares of Valmont Industries, Inc. $VMI

J. Safra Sarasin Holding AG lowered its holdings in Valmont Industries, Inc. (NYSE:VMI) by 9.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,163 shares of the industrial products company’s stock after selling 2,317 shares during the quarter. J. Safra Sarasin Holding AG owned 0.11% of Valmont Industries worth $8,835,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Congress Asset Management Co. increased its position in Valmont Industries by 14.1% during the fourth quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock worth $34,336,000 after acquiring an additional 10,518 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Valmont Industries in the 3rd quarter worth $1,749,000. Dakota Wealth Management acquired a new stake in Valmont Industries in the 4th quarter worth $581,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Valmont Industries by 6,762.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 8,724 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Valmont Industries during the 4th quarter worth about $1,785,000. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Performance

NYSE:VMI opened at $540.89 on Tuesday. The firm has a market capitalization of $10.50 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. 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, Inc. has a 12-month low of $326.22 and a 12-month high of $585.71. The firm has a 50-day moving average price of $537.63 and a 200 day moving average price of $471.98.

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

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, June 26th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries’s payout ratio is currently 17.10%.

Insiders Place Their Bets

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the transaction, the director directly owned 112,309 shares in the company, valued at $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Stifel Nicolaus lifted their price objective on Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Oppenheimer set a $600.00 target price on Valmont Industries and gave the company 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 assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $573.75.

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.