Ameriprise Financial Inc. increased its position in Valmont Industries Inc. (NYSE:VMI) by 19.8% during the second quarter, Holdings Channel reports. The institutional investor owned 72,353 shares of the company’s stock after buying an additional 11,954 shares during the period. Ameriprise Financial Inc. owned approximately 0.32% of Valmont Industries worth $9,788,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in VMI. Makaira Partners LLC acquired a new position in Valmont Industries during the first quarter worth $83,771,000. HBK Investments L P acquired a new position in Valmont Industries during the first quarter worth $1,214,000. Geode Capital Management LLC raised its position in Valmont Industries by 1.8% in the first quarter. Geode Capital Management LLC now owns 138,758 shares of the company’s stock worth $17,183,000 after buying an additional 2,430 shares during the last quarter. Goldman Sachs Group Inc. raised 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 during the last quarter. Finally, UBS Group AG raised its position in Valmont Industries by 191.4% in the first quarter. UBS Group AG now owns 18,830 shares of the company’s stock worth $2,332,000 after buying an additional 12,367 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.
Shares of Valmont Industries Inc. (NYSE:VMI) traded up 0.68% during trading on Friday, hitting $134.57. 166,358 shares of the stock traded hands. The firm has a market cap of $3.05 billion, a PE ratio of 54.73 and a beta of 1.08. The company’s 50 day moving average is $130.83 and its 200 day moving average is $131.27. Valmont Industries Inc. has a 52-week low of $96.49 and a 52-week high of $145.94.
Valmont Industries (NYSE:VMI) last announced its quarterly 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. The business earned $640.20 million during the quarter, compared to the consensus estimate of $648.54 million. Valmont Industries had a net margin of 2.26% and a return on equity of 13.91%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 EPS. On average, equities research analysts predict that Valmont Industries Inc. will post $6.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.375 dividend. 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 1.11%. Valmont Industries’s dividend payout ratio is presently 60.48%.
VMI has been the topic of several recent analyst reports. Credit Suisse Group AG reiterated an “underperform” rating on shares of Valmont Industries in a report on Wednesday, July 6th. TheStreet upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Finally, Zacks Investment Research lowered shares of Valmont Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus 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 dated Friday, July 29th. The shares were sold at an average price of $130.10, for a total value of $49,568.10. Following the completion of the transaction, the director now owns 6,979 shares in the company, valued at approximately $907,967.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by insiders.
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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