May 26, 2023 – Amidst the ever-changing stock market conditions, a new acquisition has been made by the Bank of Nova Scotia. The bank revealed in its most recent Form 13F filing with the Securities and Exchange Commission (SEC) that it has acquired a new stake in Valmont Industries, Inc. (NYSE:VMI). The industrial products company’s stock value stands at approximately $210,000 with a total acquisition of 636 shares.
Valmont Industries also recently announced its quarterly dividend which will be paid on Friday, July 14th to stockholders. As per record, individuals owning stocks until Friday, June 30th, are privy to a dividend of $0.60 per share. However, individuals trading after Thursday, June 29th will not receive any dividends. At present, Valmont Industries’ dividend payout ratio is calculated at 19.67%, and an annualized dividend of $2.40 with shareholders getting a yield of about 0.86%.
Several equities analysts have recently commented on VMI shares after Stifel Nicolaus decreased its price target from $389.00 to $352.00 and listed the firm as “buy”. DA Davidson reiterated “neutral” rating while StockNews.com put forth its analysis mentioning “buy” rating for the company in their research note issued on May 18th.
According to Bloomberg.com’s data analysis system reports suggest that at present Valmont Industries currently has an average rating of “Moderate Buy” while having an average price target of $314.75.
The Bank of Nova Scotia’s acquisition marks another intriguing event shaping up in the industrial market sector highlighting valuable investment opportunities for potential investors looking to take advantage of this lucrative sector’s growth trends and handsome revenue generation prospects.
In conclusion, overall Market industry trends indeed highlight substantial revenue generating prospects offering huge investments opportunity for people looking for long-term gains through constant investment in different sectors. And with financial institutions such as the Bank of Nova Scotia always on their toes, it won’t be a surprise to see more such acquisitions being made, creating an exciting atmosphere for investors as well as people working in diverse industries.
Valmont Industries: Stock Ownership, Dividend Declaration, and Trading Performance
Valmont Industries, Inc. is a renowned industrial product company whose shares are held by several hedge funds and institutional investors, as reported in their holdings between the period under review. Specifically, during the third quarter of the previous year, many leading financial institutions modified their investment in and ownership of Valmont Industries’ stocks. Among them were Vanguard Group Inc., BlackRock Inc., Neuberger Berman Group LLC, State Street Corp, and Dimensional Fund Advisors LP. Their move resulted in an 87.84% stock ownership by other institutional investors and hedge funds.
In a related matter, Theodor Werner Freye, one of the company’s directors, recently sold 549 shares for $293 each on May 2nd at a total cost of $160,857 via a legal filing with the Securities and Exchange Commission (SEC). Following this transaction, Mr Werner Freye now directly owns 5,749 company shares worth $1,684,457. Aaron M. Schapper also sold 4,033 shares of VMI stock on March 14th for $309.24 per share for a total value of $1,247169.92.
The declaration of dividends is also in the news with Valmont Industries disclosing that it would pay out its quarterly dividend on Friday July 14th to shareholders who had been recorded on June 30th at the rate of $0.60 per share annually or at an ex-dividend date of June 29th resulting in an annualized dividend payout ratio presently at 19.67%.
With trading resuming on Friday May 26th at an opening price point of $277.58 per share valuation after displaying mixed results over time from its highest price point index achieved within the last one-year period ($353.36) towards its lowest price point index achieved ($213.27), analysts remain positive that Valmont Industries will continue to thrive with projected earnings-per-share (EPS) expected to reach $15.36 for the current year. The company’s quick and current ratio, standing at 1.40 and 2.32 respectively, reflect sound liquidity while its debt-to-equity ratio of 0.62 depicts a financial structure equipped with adequate leverage ratios.
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