Chicago Equity Partners LLC cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 58.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,130 shares of the industrial products company’s stock after selling 10,105 shares during the period. Chicago Equity Partners LLC’s holdings in Valmont Industries were worth $1,067,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Crawford Investment Counsel Inc. increased its position in shares of Valmont Industries by 33.6% during the second quarter. Crawford Investment Counsel Inc. now owns 17,530 shares of the industrial products company’s stock worth $2,622,000 after acquiring an additional 4,410 shares in the last quarter. Principal Financial Group Inc. grew its position in Valmont Industries by 3.1% in the 2nd quarter. Principal Financial Group Inc. now owns 95,774 shares of the industrial products company’s stock worth $14,328,000 after purchasing an additional 2,917 shares in the last quarter. Prudential Financial Inc. grew its position in Valmont Industries by 516.7% in the 2nd quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock worth $22,565,000 after purchasing an additional 126,375 shares in the last quarter. American Century Companies Inc. grew its position in Valmont Industries by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 135,512 shares of the industrial products company’s stock worth $20,273,000 after purchasing an additional 6,485 shares in the last quarter. Finally, FCA Corp TX grew its position in Valmont Industries by 0.6% in the 2nd quarter. FCA Corp TX now owns 23,611 shares of the industrial products company’s stock worth $3,532,000 after purchasing an additional 135 shares in the last quarter. 83.98% of the stock is owned by institutional investors.
Shares of Valmont Industries, Inc. (VMI) opened at 150.40 on Friday. Valmont Industries, Inc. has a 1-year low of $120.65 and a 1-year high of $165.20. The company’s 50-day moving average is $148.02 and its 200-day moving average is $150.56. The stock has a market cap of $3.40 billion, a P/E ratio of 18.63 and a beta of 0.98.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.05. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The company 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 posted $1.85 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts expect that Valmont Industries, Inc. will post $7.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s payout ratio is 18.59%.
A number of brokerages have issued reports on VMI. Seaport Global Securities began coverage on shares of Valmont Industries in a research report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price objective for the company. Boenning Scattergood reiterated an “outperform” rating on shares of Valmont Industries in a research note on Tuesday, September 5th. BidaskClub lowered shares of Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $171.00 target price on shares of Valmont Industries in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $165.33.
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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