American Century Companies Inc. lifted its position in Valmont Industries, Inc. (NYSE:VMI) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,512 shares of the industrial products company’s stock after purchasing an additional 6,485 shares during the quarter. American Century Companies Inc. owned about 0.60% of Valmont Industries worth $20,273,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of VMI. BlackRock Inc. increased its holdings in shares of Valmont Industries by 13,061.6% in the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after purchasing an additional 1,751,426 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of Valmont Industries in the first quarter worth about $33,365,000. Bank of New York Mellon Corp increased its holdings in shares of Valmont Industries by 55.3% in the first quarter. Bank of New York Mellon Corp now owns 413,659 shares of the industrial products company’s stock worth $64,324,000 after purchasing an additional 147,339 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Valmont Industries in the first quarter worth about $14,376,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Valmont Industries in the first quarter worth about $14,026,000. 83.98% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on VMI shares. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research cut Valmont Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Boenning Scattergood reissued a “hold” rating on shares of Valmont Industries in a research note on Thursday, July 20th. Stifel Nicolaus reissued a “buy” rating and set a $171.00 price objective on shares of Valmont Industries in a research note on Friday, July 14th. Finally, Seaport Global Securities began coverage on Valmont Industries in a research note on Wednesday, September 6th. They set a “buy” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $165.33.
Shares of Valmont Industries, Inc. (NYSE VMI) traded down 1.05% on Friday, hitting $150.40. The company’s stock had a trading volume of 297,225 shares. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 18.63 and a beta of 0.98. The stock has a 50-day moving average price of $148.02 and a 200 day moving average price of $150.56. Valmont Industries, Inc. has a one year low of $120.65 and a one year high of $165.20.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.05. The business had revenue of $712.70 million during the quarter, compared to the consensus estimate of $668.06 million. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. Equities research analysts predict that Valmont Industries, Inc. will post $7.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.00%. Valmont Industries’s dividend payout ratio is currently 18.59%.
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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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