Dimensional Fund Advisors LP decreased its position in shares of Valmont Industries Inc. (NYSE:VMI) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 622,966 shares of the company’s stock after selling 5,215 shares during the period. Dimensional Fund Advisors LP owned about 2.75% of Valmont Industries worth $84,267,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of VMI. Teacher Retirement System of Texas increased its stake in shares of Valmont Industries by 13.5% in the second quarter. Teacher Retirement System of Texas now owns 3,218 shares of the company’s stock worth $435,000 after buying an additional 384 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Valmont Industries by 0.3% in the second quarter. UBS Asset Management Americas Inc. now owns 26,752 shares of the company’s stock worth $3,618,000 after buying an additional 80 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Valmont Industries by 2.4% in the second quarter. Nationwide Fund Advisors now owns 41,096 shares of the company’s stock worth $5,559,000 after buying an additional 977 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Valmont Industries by 92.7% in the second quarter. JPMorgan Chase & Co. now owns 519,339 shares of the company’s stock worth $70,252,000 after buying an additional 249,858 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Valmont Industries by 13.1% in the second quarter. Advisors Asset Management Inc. now owns 2,976 shares of the company’s stock worth $403,000 after buying an additional 345 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.
Valmont Industries Inc. (NYSE:VMI) opened at 130.63 on Friday. The company has a market cap of $2.96 billion, a P/E ratio of 53.12 and a beta of 1.08. The company has a 50-day moving average of $130.53 and a 200 day moving average of $130.77. Valmont Industries Inc. has a one year low of $92.33 and a one year high of $145.94.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.73 by $0.12. Valmont Industries had a return on equity of 13.91% and a net margin of 2.26%. The firm earned $640.20 million during the quarter, compared to analyst estimates of $648.54 million. During the same quarter in the prior year, the business posted $1.61 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Analysts anticipate that Valmont Industries Inc. will post $6.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.15%. Valmont Industries’s dividend payout ratio is presently 60.48%.
A number of brokerages have recently issued reports on VMI. TheStreet downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Zacks Investment Research raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Credit Suisse Group AG reaffirmed an “underperform” rating on shares of Valmont Industries in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $124.67.
In other news, Director Clark T. Jr. Randt sold 381 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $130.10, for a total transaction of $49,568.10. Following the completion of the sale, the director now owns 6,979 shares in the company, valued at approximately $907,967.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
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