British Airways Pensions Investment Management Ltd Takes Position in Valmont Industries Inc. (VMI)
British Airways Pensions Investment Management Ltd purchased a new stake in Valmont Industries Inc. (NYSE:VMI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 116,706 shares of the company’s stock, valued at approximately $15,849,000.
Other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC boosted its position in shares of Valmont Industries by 69.6% in the second quarter. LS Investment Advisors LLC now owns 1,389 shares of the company’s stock valued at $188,000 after buying an additional 570 shares in the last quarter. Invictus RG boosted its position in shares of Valmont Industries by 229.1% in the first quarter. Invictus RG now owns 1,639 shares of the company’s stock valued at $203,000 after buying an additional 1,141 shares in the last quarter. Aperio Group LLC boosted its position in shares of Valmont Industries by 20.0% in the first quarter. Aperio Group LLC now owns 2,465 shares of the company’s stock valued at $305,000 after buying an additional 411 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Valmont Industries by 2.4% in the first quarter. CIBC World Markets Inc. now owns 4,465 shares of the company’s stock valued at $553,000 after buying an additional 106 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Valmont Industries during the first quarter valued at $603,000. 88.07% of the stock is owned by institutional investors.
Valmont Industries Inc. (NYSE:VMI) traded up 2.83% during midday trading on Thursday, hitting $134.00. The stock had a trading volume of 163,076 shares. Valmont Industries Inc. has a 1-year low of $92.33 and a 1-year high of $145.94. The stock’s 50-day moving average is $130.50 and its 200-day moving average is $130.69. The stock has a market capitalization of $3.03 billion, a PE ratio of 54.49 and a beta of 1.08.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Valmont Industries had a return on equity of 13.91% and a net margin of 2.26%. The firm had revenue of $640.20 million for the quarter, compared to analyst estimates of $648.54 million. During the same period in the previous year, the firm earned $1.61 earnings per share. The company’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Valmont Industries Inc. will post $6.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, September 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 60.48%.
Several brokerages have recently weighed in on VMI. Zacks Investment Research raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. TheStreet downgraded Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Finally, Credit Suisse Group AG reissued an “underperform” rating on shares of Valmont Industries in a report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $124.67.
In other Valmont Industries news, Director Clark T. Jr. Randt sold 381 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $130.10, for a total value of $49,568.10. Following the transaction, the director now directly owns 6,979 shares of the company’s stock, valued at $907,967.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is owned by company 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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