Bridges Investment Management Inc. Grows Holdings in Valmont Industries, Inc. (NYSE:VMI)

Bridges Investment Management Inc. raised its position in Valmont Industries, Inc. (NYSE:VMI) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,738 shares of the industrial products company’s stock after buying an additional 495 shares during the period. Bridges Investment Management Inc.’s holdings in Valmont Industries were worth $1,026,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Mather Group LLC. increased its position in shares of Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 103 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Valmont Industries during the 2nd quarter worth $52,000. Principal Securities Inc. purchased a new position in shares of Valmont Industries in the 4th quarter worth about $57,000. First Horizon Advisors Inc. grew its position in Valmont Industries by 58.0% during the second quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company’s stock valued at $68,000 after buying an additional 91 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Valmont Industries during the first quarter worth about $66,000. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

VMI opened at $282.08 on Friday. The firm has a 50-day moving average price of $281.51 and a 200-day moving average price of $254.80. Valmont Industries, Inc. has a twelve month low of $188.63 and a twelve month high of $307.67. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 37.16 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.72. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. Equities analysts expect that Valmont Industries, Inc. will post 16.76 EPS for the current year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.85%. Valmont Industries’s dividend payout ratio is currently 31.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus upped their price objective on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, DA Davidson raised their target price on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Valmont Industries currently has an average rating of “Buy” and a consensus target price of $332.50.

Insider Buying and Selling at Valmont Industries

In other news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.