Wambolt & Associates LLC Invests $279,000 in Valmont Industries, Inc. (NYSE:VMI)

Wambolt & Associates LLC bought a new stake in Valmont Industries, Inc. (NYSE:VMI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,184 shares of the industrial products company’s stock, valued at approximately $279,000.

A number of other institutional investors also recently added to or reduced their stakes in VMI. Harvest Fund Management Co. Ltd purchased a new stake in Valmont Industries in the first quarter valued at approximately $29,000. Sandy Spring Bank purchased a new stake in Valmont Industries in the second quarter valued at approximately $47,000. Optimum Investment Advisors purchased a new stake in Valmont Industries in the second quarter valued at approximately $66,000. Concord Wealth Partners purchased a new stake in Valmont Industries in the first quarter valued at approximately $94,000. Finally, Banque Cantonale Vaudoise grew its stake in Valmont Industries by 246.1% during the second quarter. Banque Cantonale Vaudoise now owns 706 shares of the industrial products company’s stock worth $167,000 after buying an additional 502 shares during the period. Hedge funds and other institutional investors own 86.02% of the company’s stock.

VMI has been the subject of several research reports. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating and set a $244.00 price objective for the company. in a research note on Wednesday, September 22nd. DA Davidson boosted their price objective on shares of Valmont Industries from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday, July 23rd. Finally, Boenning Scattergood raised shares of Valmont Industries from a “neutral” rating to an “outperform” rating and set a $350.00 target price on the stock in a research report on Thursday, July 22nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Valmont Industries currently has an average rating of “Buy” and a consensus price target of $276.33.

VMI opened at $233.13 on Thursday. The stock has a market capitalization of $4.95 billion, a PE ratio of 25.96 and a beta of 1.20. The firm’s fifty day moving average price is $240.74 and its 200 day moving average price is $239.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.13 and a quick ratio of 1.34. Valmont Industries, Inc. has a 12-month low of $133.85 and a 12-month high of $265.09.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, July 20th. The industrial products company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.56. The firm had revenue of $894.63 million for the quarter, compared to analysts’ expectations of $815.05 million. Valmont Industries had a net margin of 6.01% and a return on equity of 16.93%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.00 earnings per share. On average, equities research analysts forecast that Valmont Industries, Inc. will post 10.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, September 24th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 23rd. This represents a $2.00 annualized dividend and a yield of 0.86%. Valmont Industries’s dividend payout ratio is presently 24.45%.

About Valmont Industries

Valmont Industries, Inc engages in the designing and manufacturing of engineered fabricated metal products and service. It operates through the following four segments: Engineered Support Structures, Utility Support Structures, Irrigation, and Coatings. The Engineered Support Structures segment produces engineered access systems, highway safety products, and integrated structure solutions for smart cities.

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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