Hsbc Holdings PLC Has $1.43 Million Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Hsbc Holdings PLC lessened its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 36.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,240 shares of the industrial products company’s stock after selling 2,952 shares during the period. Hsbc Holdings PLC’s holdings in Valmont Industries were worth $1,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VMI. Wellington Management Group LLP acquired a new position in Valmont Industries during the fourth quarter valued at approximately $21,669,000. Bank of New York Mellon Corp grew its holdings in Valmont Industries by 39.3% during the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after purchasing an additional 73,084 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Valmont Industries by 69.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 161,605 shares of the industrial products company’s stock worth $36,891,000 after acquiring an additional 65,970 shares during the last quarter. Robeco Schweiz AG grew its stake in shares of Valmont Industries by 65.2% in the fourth quarter. Robeco Schweiz AG now owns 150,855 shares of the industrial products company’s stock worth $35,226,000 after acquiring an additional 59,524 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Valmont Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company’s stock worth $490,407,000 after acquiring an additional 54,189 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VMI. DA Davidson raised their price objective on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus raised their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Valmont Industries has a consensus rating of “Buy” and a consensus target price of $332.50.

Valmont Industries Stock Down 0.1 %

Shares of VMI stock opened at $288.99 on Friday. The stock has a market cap of $5.84 billion, a P/E ratio of 38.08 and a beta of 1.03. Valmont Industries, Inc. has a one year low of $188.63 and a one year high of $307.67. The stock has a fifty day moving average price of $282.17 and a 200 day moving average price of $257.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63.

Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, topping the consensus estimate of $4.04 by $0.72. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. Analysts predict that Valmont Industries, Inc. will post 16.76 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. Valmont Industries’s dividend payout ratio is presently 31.62%.

Insider Activity

In other news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,105,942.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the company’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 transaction, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Valmont Industries Company Profile

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.