Valmont Industries, Inc. (NYSE:VMI) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,523 shares of the industrial products company’s stock after acquiring an additional 186 shares during the period. Mackenzie Financial Corp’s holdings in Valmont Industries were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. raised its stake in Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 103 shares during the period. Versant Capital Management Inc acquired a new position in Valmont Industries in the second quarter valued at approximately $52,000. Meeder Asset Management Inc. purchased a new position in Valmont Industries in the first quarter worth approximately $66,000. First Horizon Advisors Inc. increased its stake 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 worth $68,000 after acquiring an additional 91 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Valmont Industries in the first quarter valued at $122,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Price Performance

VMI opened at $290.54 on Friday. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 38.28 and a beta of 1.02. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The stock’s 50-day moving average price is $282.43 and its 200 day moving average price is $260.52. Valmont Industries, Inc. has a 12-month low of $188.63 and a 12-month high of $307.67.

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

Valmont Industries Announces Dividend

The business also recently disclosed 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. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, September 27th. Valmont Industries’s payout ratio is currently 31.62%.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction dated Wednesday, July 31st. The stock was 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 $1,105,942.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction dated Wednesday, July 31st. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.