IronBridge Capital Management LP Increases Position in Valmont Industries, Inc. (VMI)

IronBridge Capital Management LP raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,764 shares of the industrial products company’s stock after buying an additional 10,351 shares during the period. IronBridge Capital Management LP’s holdings in Valmont Industries were worth $13,803,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Pinnacle Bank acquired a new stake in shares of Valmont Industries during the first quarter valued at $117,000. Elkfork Partners LLC acquired a new stake in shares of Valmont Industries during the fourth quarter valued at $162,000. Janney Montgomery Scott LLC acquired a new stake in shares of Valmont Industries during the first quarter valued at $207,000. Timber Hill LLC acquired a new stake in shares of Valmont Industries during the first quarter valued at $209,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Valmont Industries during the fourth quarter valued at $261,000. 83.78% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Valmont Industries, Inc. (NYSE:VMI) traded up 1.97% during trading on Friday, hitting $149.85. The company had a trading volume of 84,939 shares. The firm has a 50 day moving average of $151.90 and a 200 day moving average of $147.52. Valmont Industries, Inc. has a 12-month low of $120.65 and a 12-month high of $165.20. The stock has a market cap of $3.38 billion, a PE ratio of 18.96 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.08. The company had revenue of $637.47 million for the quarter, compared to the consensus estimate of $626.02 million. Valmont Industries had a return on equity of 14.27% and a net margin of 2.93%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 EPS. On average, analysts forecast that Valmont Industries, Inc. will post $7.08 earnings per share for the current fiscal year.

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A number of analysts have recently commented on the company. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research note on Friday, May 12th. Stifel Nicolaus raised Valmont Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $160.00 to $167.00 in a research note on Monday, April 17th. TheStreet raised Valmont Industries from a “c” rating to a “b-” rating in a research note on Tuesday, February 21st. Finally, William Blair reissued a “market perform” rating on shares of Valmont Industries in a research note on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $170.50.

In other news, Director Clark T. Jr. Randt sold 1,000 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $155.30, for a total value of $155,300.00. Following the transaction, the director now owns 5,979 shares of the company’s stock, valued at approximately $928,538.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mogens C. Bay sold 50,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $159.49, for a total value of $7,974,500.00. Following the completion of the transaction, the chairman now directly owns 285,789 shares in the company, valued at approximately $45,580,487.61. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

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.

12 Month Chart for NYSE:VMI

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