Advisors Asset Management Inc. raised its position in shares of Valmont Industries Inc. (NYSE:VMI) by 13.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,976 shares of the company’s stock after buying an additional 345 shares during the period. Advisors Asset Management Inc.’s holdings in Valmont Industries were worth $403,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. British Airways Pensions Investment Management Ltd acquired a new position in Valmont Industries during the second quarter worth approximately $15,849,000. Renaissance Technologies LLC boosted its position 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. Aperio Group LLC boosted its position in Valmont Industries by 20.0% in the first quarter. Aperio Group LLC now owns 2,465 shares of the company’s stock worth $305,000 after buying an additional 411 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Valmont Industries by 233.8% in the first quarter. Goldman Sachs Group Inc. now owns 58,454 shares of the company’s stock worth $7,239,000 after buying an additional 40,942 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Valmont Industries by 17.9% in the first quarter. Nuveen Asset Management LLC now owns 56,520 shares of the company’s stock worth $6,999,000 after buying an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Valmont Industries Inc. (NYSE:VMI) traded up 1.3393% on Friday, reaching $135.4501. The company’s stock had a trading volume of 93,963 shares. The stock has a market capitalization of $3.07 billion, a P/E ratio of 55.0834 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. The firm has a 50 day moving average price of $130.71 and a 200 day moving average price of $131.16.
Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. Valmont Industries had a net margin of 2.26% and a return on equity of 13.91%. The company earned $640.20 million during the quarter, compared to analysts’ expectations of $648.54 million. During the same period last year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate 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. Stockholders of record on Friday, September 30th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.12%. Valmont Industries’s dividend payout ratio (DPR) is 60.48%.
A number of research analysts recently commented on VMI shares. TheStreet cut Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Zacks Investment Research cut Valmont Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Credit Suisse Group AG reiterated an “underperform” rating on shares of Valmont Industries in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Valmont Industries currently has an average rating of “Hold” and an average price target of $124.67.
In other news, Director Clark T. Jr. Randt sold 381 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $130.10, for a total transaction of $49,568.10. Following the completion of the transaction, the director now directly owns 6,979 shares of the company’s stock, valued at approximately $907,967.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.20% of the company’s stock.
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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