Valmont Industries (VMI) Rating Reiterated by Stifel Nicolaus
Valmont Industries (NYSE:VMI)‘s stock had its “hold” rating restated by investment analysts at Stifel Nicolaus in a research report issued on Tuesday, MarketBeat reports. They currently have a $181.00 price objective on the industrial products company’s stock, up from their prior price objective of $174.00. Stifel Nicolaus’ price target would indicate a potential upside of 6.75% from the company’s previous close.
A number of other equities analysts also recently issued reports on VMI. Zacks Investment Research upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Boenning Scattergood reiterated a “buy” rating and set a $185.00 target price on shares of Valmont Industries in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $176.00.
Valmont Industries (NYSE VMI) traded up $1.50 during mid-day trading on Tuesday, hitting $169.55. The stock had a trading volume of 49,800 shares, compared to its average volume of 106,373. The stock has a market cap of $3,799.22, a P/E ratio of 20.23, a P/E/G ratio of 2.11 and a beta of 1.06. Valmont Industries has a 52-week low of $138.30 and a 52-week high of $176.35. The company has a current ratio of 3.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.65.
In related news, VP Vanessa Kay Brown sold 3,059 shares of Valmont Industries stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMI. Principal Financial Group Inc. lifted its position in Valmont Industries by 3.1% during the second quarter. Principal Financial Group Inc. now owns 95,774 shares of the industrial products company’s stock valued at $14,328,000 after purchasing an additional 2,917 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Valmont Industries by 344.0% during the second quarter. JPMorgan Chase & Co. now owns 73,666 shares of the industrial products company’s stock valued at $11,020,000 after purchasing an additional 57,074 shares in the last quarter. Wells Fargo & Company MN lifted its position in Valmont Industries by 778.6% during the second quarter. Wells Fargo & Company MN now owns 101,387 shares of the industrial products company’s stock valued at $15,168,000 after purchasing an additional 89,847 shares in the last quarter. Riverhead Capital Management LLC lifted its position in Valmont Industries by 85.6% during the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 599 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Valmont Industries by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 84,708 shares of the industrial products company’s stock valued at $12,674,000 after purchasing an additional 5,027 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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