M&T Bank Corp Raises Stake in Valmont Industries, Inc. (VMI)

M&T Bank Corp grew its holdings in Valmont Industries, Inc. (NYSE:VMI) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,006 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. M&T Bank Corp’s holdings in Valmont Industries were worth $300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of Valmont Industries by 3.3% in the 2nd quarter. California Public Employees Retirement System now owns 56,800 shares of the industrial products company’s stock valued at $8,497,000 after purchasing an additional 1,800 shares during the period. Vanguard Group Inc. increased its holdings in shares of Valmont Industries by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,869,447 shares of the industrial products company’s stock valued at $279,669,000 after purchasing an additional 90,745 shares during the period. Citigroup Inc. increased its holdings in shares of Valmont Industries by 0.7% in the 2nd quarter. Citigroup Inc. now owns 4,530 shares of the industrial products company’s stock valued at $678,000 after purchasing an additional 31 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Valmont Industries by 51.7% in the 2nd quarter. GSA Capital Partners LLP now owns 6,334 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 2,159 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Valmont Industries by 9.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,496 shares of the industrial products company’s stock valued at $3,665,000 after purchasing an additional 2,033 shares during the period. Institutional investors own 83.57% of the company’s stock.

Shares of Valmont Industries, Inc. (NYSE:VMI) opened at 157.85 on Friday. The company has a market cap of $3.57 billion, a PE ratio of 19.55 and a beta of 0.99. Valmont Industries, Inc. has a 52 week low of $120.65 and a 52 week high of $165.20. The company has a 50 day moving average price of $152.23 and a 200 day moving average price of $151.14.

Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.05. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The business had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. During the same quarter last year, the firm earned $1.85 EPS. Valmont Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Valmont Industries, Inc. will post $7.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s dividend payout ratio is presently 18.59%.

A number of equities analysts have recently weighed in on VMI shares. BidaskClub downgraded Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $171.00 target price on shares of Valmont Industries in a report on Friday, July 14th. Boenning Scattergood reissued a “hold” rating on shares of Valmont Industries in a research note on Thursday, July 20th. Zacks Investment Research cut Valmont Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Seaport Global Securities initiated coverage on Valmont Industries in a research note on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $165.50.

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About Valmont Industries

Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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