Trexquant Investment LP acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,592 shares of the industrial products company’s stock, valued at approximately $252,000.
Other hedge funds have also added to or reduced their stakes in the company. Foundry Partners LLC increased its holdings in shares of Valmont Industries by 11.0% during the 3rd quarter. Foundry Partners LLC now owns 23,595 shares of the industrial products company’s stock worth $3,730,000 after buying an additional 2,330 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Valmont Industries by 51.3% during the 3rd quarter. Prudential Financial Inc. now owns 228,179 shares of the industrial products company’s stock worth $36,076,000 after buying an additional 77,346 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Valmont Industries by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 135,512 shares of the industrial products company’s stock worth $20,273,000 after buying an additional 6,485 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Valmont Industries by 53.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 623,558 shares of the industrial products company’s stock worth $98,585,000 after buying an additional 215,893 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Valmont Industries by 7.8% during the 2nd quarter. Comerica Bank now owns 24,986 shares of the industrial products company’s stock worth $3,860,000 after buying an additional 1,802 shares during the last quarter. Institutional investors own 85.28% of the company’s stock.
Valmont Industries, Inc. (VMI) traded up $1.00 during trading on Friday, reaching $169.65. 69,100 shares of the company traded hands, compared to its average volume of 130,369. Valmont Industries, Inc. has a 12-month low of $135.95 and a 12-month high of $176.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.50 and a quick ratio of 2.53. The firm has a market cap of $3,812.78, a P/E ratio of 24.58, a PEG ratio of 2.42 and a beta of 1.06.
Valmont Industries (NYSE:VMI) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.04). Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The company had revenue of $680.78 million during the quarter, compared to analyst estimates of $652.65 million. During the same quarter last year, the business posted $1.48 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. research analysts predict that Valmont Industries, Inc. will post 6.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.375 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.50 annualized dividend and a yield of 0.88%. Valmont Industries’s dividend payout ratio (DPR) is presently 17.90%.
In related news, VP Vanessa Kay Brown sold 3,059 shares of Valmont Industries stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.74, for a total value of $525,352.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. Boenning Scattergood restated a “buy” rating and set a $185.00 price target on shares of Valmont Industries in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $183.00 target price on shares of Valmont Industries in a report on Tuesday, October 17th. Seaport Global Securities started coverage on shares of Valmont Industries in a report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 target price for the company. Finally, BidaskClub downgraded shares of Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $176.50.
Valmont Industries Company Profile
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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