Federated Hermes Inc. Has $611,000 Stake in Valmont Industries, Inc. (NYSE:VMI)

Federated Hermes Inc. reduced its holdings in Valmont Industries, Inc. (NYSE:VMI) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,228 shares of the industrial products company’s stock after selling 216 shares during the period. Federated Hermes Inc.’s holdings in Valmont Industries were worth $611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wambolt & Associates LLC boosted its holdings in shares of Valmont Industries by 10.1% in the 2nd quarter. Wambolt & Associates LLC now owns 4,999 shares of the industrial products company’s stock valued at $1,340,000 after buying an additional 460 shares during the last quarter. Beverly Hills Private Wealth LLC bought a new position in shares of Valmont Industries in the 2nd quarter valued at about $399,000. Johnson Investment Counsel Inc. raised its holdings in shares of Valmont Industries by 65.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,681 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 664 shares during the period. Qsemble Capital Management LP bought a new stake in shares of Valmont Industries in the 2nd quarter valued at about $504,000. Finally, American Century Companies Inc. grew its holdings in Valmont Industries by 16.4% during the second quarter. American Century Companies Inc. now owns 24,067 shares of the industrial products company’s stock worth $6,605,000 after purchasing an additional 3,397 shares during the period. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VMI shares. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, DA Davidson upped their price objective on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research 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.com, Valmont Industries has an average rating of “Buy” and an average target price of $332.50.

Insider Activity

In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The sale 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 company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Valmont Industries Stock Performance

NYSE:VMI opened at $286.27 on Tuesday. The stock has a 50 day simple moving average of $281.84 and a 200 day simple moving average of $256.50. The stock has a market cap of $5.78 billion, a P/E ratio of 37.72 and a beta of 1.03. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $307.67. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69.

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

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.84%. Valmont Industries’s dividend payout ratio is presently 31.62%.

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.