Capital Fund Management S.A. lowered its stake in Valmont Industries Inc. (NYSE:VMI) by 36.6% during the second quarter, Holdings Channel reports. The fund owned 11,416 shares of the company’s stock after selling 6,600 shares during the period. Capital Fund Management S.A.’s holdings in Valmont Industries were worth $1,544,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in VMI. British Airways Pensions Investment Management Ltd purchased a new stake in shares of Valmont Industries during the second quarter valued at approximately $15,849,000. Bank of Montreal Can purchased a new stake in shares of Valmont Industries during the second quarter valued at approximately $2,570,000. LS Investment Advisors LLC boosted its stake in shares of Valmont Industries by 69.6% in the second quarter. LS Investment Advisors LLC now owns 1,389 shares of the company’s stock valued at $188,000 after buying an additional 570 shares during the last quarter. First Quadrant L P CA boosted its stake in shares of Valmont Industries by 656.0% in the second quarter. First Quadrant L P CA now owns 139,855 shares of the company’s stock valued at $18,918,000 after buying an additional 121,355 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Valmont Industries by 11.8% in the second quarter. Creative Planning now owns 11,614 shares of the company’s stock valued at $1,571,000 after buying an additional 1,225 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.
Valmont Industries Inc. (NYSE:VMI) traded down 1.94% on Friday, hitting $128.90. The company’s stock had a trading volume of 131,204 shares. The company has a 50 day moving average price of $130.94 and a 200-day moving average price of $131.57. Valmont Industries Inc. has a 1-year low of $96.49 and a 1-year high of $145.94. The company has a market capitalization of $2.92 billion, a P/E ratio of 52.42 and a beta of 0.97.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm earned $640.20 million during the quarter, compared to analyst estimates of $648.54 million. Valmont Industries had a net margin of 2.26% and a return on equity of 13.91%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 earnings per share. On average, equities analysts forecast that Valmont Industries Inc. will post $6.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.375 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 annualized dividend and a yield of 1.16%. Valmont Industries’s dividend payout ratio is 60.48%.
Several equities research analysts recently commented on the company. TheStreet cut Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Zacks Investment Research raised Valmont Industries from a “sell” rating to a “hold” rating in a 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 investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $124.67.
In other Valmont Industries news, Director Clark T. Jr. Randt sold 381 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $130.10, for a total transaction of $49,568.10. Following the sale, the director now directly owns 6,979 shares of the company’s stock, valued at $907,967.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company 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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