Valmont Industries (NYSE:VMI) Sets New 1-Year High – Here’s Why

Valmont Industries, Inc. (NYSE:VMI)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $487.58 and last traded at $476.7410, with a volume of 18296 shares. The stock had previously closed at $474.19.

Wall Street Analysts Forecast Growth

VMI has been the topic of several research reports. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Stifel Nicolaus boosted their price target on Valmont Industries from $491.00 to $492.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. DA Davidson raised their price objective on Valmont Industries from $400.00 to $415.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Valmont Industries in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $462.33.

Valmont Industries Stock Down 0.7%

The company has a market cap of $9.35 billion, a P/E ratio of 41.02 and a beta of 1.22. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $431.86 and its 200-day moving average price is $403.57.

Institutional Trading of Valmont Industries

A number of hedge funds have recently made changes to their positions in VMI. Azzad Asset Management Inc. ADV bought a new stake in Valmont Industries in the 3rd quarter worth approximately $739,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Valmont Industries in the third quarter worth approximately $1,658,000. Asset Management One Co. Ltd. grew its position in shares of Valmont Industries by 441.2% during the third quarter. Asset Management One Co. Ltd. now owns 4,941 shares of the industrial products company’s stock worth $1,916,000 after purchasing an additional 4,028 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in Valmont Industries during the 3rd quarter valued at approximately $5,663,000. Finally, Allianz Asset Management GmbH increased its stake in Valmont Industries by 1.2% during the third quarter. Allianz Asset Management GmbH now owns 283,740 shares of the industrial products company’s stock worth $110,015,000 after acquiring an additional 3,379 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

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.