Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Valmont Industries, Inc. (NYSE:VMI)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Valmont Industries, Inc. (NYSE:VMI) by 23.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,650 shares of the industrial products company’s stock after purchasing an additional 5,265 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.14% of Valmont Industries worth $7,589,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Valmont Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company’s stock valued at $490,407,000 after buying an additional 54,189 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Valmont Industries by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 401,313 shares of the industrial products company’s stock valued at $93,711,000 after buying an additional 17,631 shares during the period. King Luther Capital Management Corp increased its holdings in Valmont Industries by 3.7% during the 4th quarter. King Luther Capital Management Corp now owns 386,624 shares of the industrial products company’s stock worth $90,281,000 after purchasing an additional 13,756 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Valmont Industries by 39.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock worth $71,040,000 after purchasing an additional 73,084 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Valmont Industries by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 252,501 shares of the industrial products company’s stock worth $58,962,000 after purchasing an additional 13,764 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Stock Performance

Shares of VMI traded down $2.99 during mid-day trading on Friday, hitting $280.23. The stock had a trading volume of 55,597 shares, compared to its average volume of 166,746. The company has a market cap of $5.65 billion, a PE ratio of 37.29 and a beta of 1.03. The company’s fifty day simple moving average is $279.79 and its two-hundred day simple moving average is $249.39. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. Valmont Industries, Inc. has a fifty-two week low of $188.63 and a fifty-two week high of $307.67.

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 company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. On average, equities analysts expect that Valmont Industries, Inc. will post 16.76 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Valmont Industries’s dividend payout ratio is currently 31.62%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Valmont Industries

In related news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 owns 3,685 shares in the company, valued at approximately $1,105,942.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction 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 approximately $2,826,998.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries 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 directly owns 3,685 shares in the company, 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.

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.