Valmont Industries, Inc. (NYSE:VMI) Position Raised by LS Investment Advisors LLC
LS Investment Advisors LLC boosted its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,805 shares of the industrial products company’s stock after buying an additional 260 shares during the period. LS Investment Advisors LLC’s holdings in Valmont Industries were worth $270,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in VMI. Pinnacle Bank purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $117,000. Gofen & Glossberg LLC IL purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $205,000. Janney Montgomery Scott LLC purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $207,000. Timber Hill LLC purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $209,000. Finally, Verity Asset Management Inc. purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $228,000. 84.33% of the stock is currently owned by institutional investors.
Valmont Industries, Inc. (NYSE:VMI) traded up 0.43% on Friday, hitting $151.40. 83,720 shares of the company were exchanged. The firm has a 50 day moving average of $151.52 and a 200-day moving average of $150.17. Valmont Industries, Inc. has a 52-week low of $120.65 and a 52-week high of $165.20. The stock has a market cap of $3.42 billion, a PE ratio of 18.75 and a beta of 0.97.
Valmont Industries (NYSE:VMI) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.05. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The business had revenue of $712.70 million for the quarter, compared to analysts’ expectations of $668.06 million. During the same period in the previous year, the company posted $1.85 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Valmont Industries, Inc. will post $7.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.375 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.50 annualized dividend and a yield of 0.99%. Valmont Industries’s dividend payout ratio is presently 18.59%.
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VMI has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on shares of Valmont Industries from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Sunday, April 23rd. Zacks Investment Research raised shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $168.00.
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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