Valmont Industries, Inc. $VMI Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in Valmont Industries, Inc. (NYSE:VMI) by 28.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,178 shares of the industrial products company’s stock after acquiring an additional 2,681 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Valmont Industries worth $7,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Valmont Industries in the second quarter worth about $1,141,369,000. Bank of America Corp DE purchased a new stake in Valmont Industries in the second quarter valued at approximately $175,408,000. Norges Bank purchased a new stake in Valmont Industries in the fourth quarter valued at approximately $99,799,000. AQR Capital Management LLC increased its holdings in Valmont Industries by 118.8% in the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock worth $108,884,000 after buying an additional 153,418 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Valmont Industries during the 2nd quarter worth approximately $83,723,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on VMI shares. Weiss Ratings upgraded shares of Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. increased their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus raised their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Valmont Industries has an average rating of “Moderate Buy” and a consensus target price of $587.00.

Insider Buying and Selling at Valmont Industries

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

Valmont Industries Stock Performance

NYSE VMI opened at $481.06 on Thursday. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.10 and a beta of 1.34. The stock has a 50-day moving average of $500.40 and a 200 day moving average of $486.87. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. Valmont Industries, Inc. has a twelve month low of $361.50 and a twelve month high of $585.71.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, beating the consensus estimate of $5.80 by $0.34. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.Valmont Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $4.88 earnings per share. Sell-side analysts anticipate that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is currently 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.