Nationwide Fund Advisors increased its stake in Valmont Industries Inc. (NYSE:VMI) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,096 shares of the company’s stock after buying an additional 977 shares during the period. Nationwide Fund Advisors owned approximately 0.18% of Valmont Industries worth $5,559,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of VMI. Makaira Partners LLC purchased a new stake in Valmont Industries during the first quarter worth about $83,771,000. Kovitz Investment Group Partners LLC purchased a new stake in Valmont Industries during the first quarter worth about $43,456,000. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Renaissance Technologies LLC increased its stake in Valmont Industries by 232.4% in the first quarter. Renaissance Technologies LLC now owns 216,400 shares of the company’s stock worth $26,799,000 after buying an additional 151,300 shares in the last quarter. Finally, First Quadrant L P CA increased its stake in Valmont Industries by 656.0% in the second quarter. First Quadrant L P CA now owns 139,855 shares of the company’s stock worth $18,918,000 after buying an additional 121,355 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.
Valmont Industries Inc. (NYSE:VMI) traded down 0.19% during trading on Thursday, hitting $133.50. The stock had a trading volume of 60,284 shares. The company has a 50-day moving average price of $130.61 and a 200-day moving average price of $131.15. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 54.29 and a beta of 1.08. Valmont Industries Inc. has a 52-week low of $92.33 and a 52-week high of $145.94.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $648.54 million. During the same period in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Valmont Industries Inc. will post $6.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 annualized dividend and a yield of 1.12%. Valmont Industries’s dividend payout ratio (DPR) is presently 60.48%.
A number of analysts have issued reports on VMI shares. TheStreet raised Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Zacks Investment Research raised Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Credit Suisse Group AG reissued an “underperform” rating on shares of Valmont Industries in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $124.67.
In related news, Director Clark T. Jr. Randt sold 381 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $130.10, for a total value of $49,568.10. Following the transaction, the director now directly owns 6,979 shares of the company’s stock, valued at approximately $907,967.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.
Valmont Industries Company Profile
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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