SMART Wealth LLC Cuts Stake in Valmont Industries, Inc. $VMI

SMART Wealth LLC cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 33.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,349 shares of the industrial products company’s stock after selling 1,701 shares during the period. SMART Wealth LLC’s holdings in Valmont Industries were worth $1,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Valmont Industries in the second quarter worth $28,000. Elyxium Wealth LLC acquired a new stake in shares of Valmont Industries in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Valmont Industries in the fourth quarter valued at $27,000. Elevation Wealth Partners LLC boosted its holdings in Valmont Industries by 179.2% in the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 43 shares during the period. Finally, Leonteq Securities AG purchased a new position in Valmont Industries in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at Valmont Industries

In related news, Director Theodor Freye sold 800 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the transaction, the director directly owned 2,805 shares of the company’s stock, valued at $1,388,475. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Schwietz purchased 208 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the purchase, the chief financial officer directly owned 2,992 shares in the company, valued at $1,454,530.88. This represents a 7.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.42% of the company’s stock.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $480.79 on Friday. The stock’s 50-day simple moving average is $505.66 and its 200-day simple moving average is $486.22. The firm has a market capitalization of $9.28 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34. Valmont Industries, Inc. has a fifty-two week low of $361.50 and a fifty-two week high of $585.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.57% and a net margin of 11.70%.The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.88 earnings per share. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s dividend payout ratio is presently 11.99%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Stifel Nicolaus lifted their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Finally, Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $587.00.

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.