Allspring Global Investments Holdings LLC Invests $8.28 Million in Valmont Industries, Inc. (NYSE:VMI)

Allspring Global Investments Holdings LLC purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,985 shares of the industrial products company’s stock, valued at approximately $8,275,000.

Several other hedge funds have also recently added to or reduced their stakes in VMI. Sunbelt Securities Inc. acquired a new stake in shares of Valmont Industries in the third quarter valued at about $35,000. Exchange Traded Concepts LLC acquired a new stake in shares of Valmont Industries in the third quarter valued at $39,000. Point72 Asset Management L.P. acquired a new position in Valmont Industries during the 3rd quarter worth about $58,000. Avior Wealth Management LLC lifted its stake in Valmont Industries by 35.9% during the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 56 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Valmont Industries by 35.4% during the third quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 56 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $378.00 on Wednesday. The stock has a market cap of $7.57 billion, a P/E ratio of 25.68 and a beta of 1.05. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $379.22. The stock has a 50 day moving average of $322.28 and a two-hundred day moving average of $310.97. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. During the same quarter in the prior year, the business posted $3.18 earnings per share. On average, research analysts forecast that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Insiders Place Their Bets

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the transaction, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VMI. DA Davidson upped their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $382.00 to $387.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

About Valmont Industries

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.