Bornite Capital Management LP Makes New $37.72 Million Investment in Valmont Industries, Inc. $VMI

Bornite Capital Management LP acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) during the second quarter, HoldingsChannel.com reports. The fund acquired 65,300 shares of the industrial products company’s stock, valued at approximately $37,717,000. Valmont Industries accounts for about 4.7% of Bornite Capital Management LP’s holdings, making the stock its 12th biggest position.

Several other institutional investors have also modified their holdings of VMI. Elyxium Wealth LLC purchased a new position in Valmont Industries in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Valmont Industries in the fourth quarter valued at $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Valmont Industries during the 2nd quarter worth about $28,000. Leonteq Securities AG purchased a new stake in Valmont Industries during the 4th quarter worth about $30,000. Finally, State of Wyoming acquired a new position in shares of Valmont Industries during the 4th quarter worth about $34,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Theodor Werner Freye sold 800 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the sale, the director owned 2,805 shares in the company, valued at $1,388,475. This represents a 22.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John L. Schwietz purchased 208 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average price of $486.14 per share, with a total value of $101,117.12. Following the purchase, the chief financial officer owned 2,992 shares in the company, valued at $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.42% of the company’s stock.

Valmont Industries Stock Down 0.6%

VMI opened at $466.97 on Wednesday. The business’s 50-day simple moving average is $511.57 and its 200-day simple moving average is $486.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. Valmont Industries, Inc. has a one year low of $360.41 and a one year high of $585.71. The stock has a market capitalization of $9.02 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.34.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.34. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.88 EPS. Analysts anticipate that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s dividend payout ratio is presently 11.99%.

Analyst Ratings Changes

A number of research analysts have recently commented on VMI shares. JPMorgan Chase & Co. increased their price objective on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Zacks Research cut Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus increased their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $587.00.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.