2,747 Shares in Valmont Industries, Inc. (VMI) Acquired by ING Groep NV
ING Groep NV purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,747 shares of the industrial products company’s stock, valued at approximately $411,000.
Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Valmont Industries during the fourth quarter worth approximately $518,000. Guggenheim Capital LLC boosted its stake in shares of Valmont Industries by 97.9% in the fourth quarter. Guggenheim Capital LLC now owns 4,224 shares of the industrial products company’s stock worth $595,000 after buying an additional 2,090 shares during the period. Foundry Partners LLC boosted its stake in shares of Valmont Industries by 38.1% in the first quarter. Foundry Partners LLC now owns 21,745 shares of the industrial products company’s stock worth $3,381,000 after buying an additional 5,997 shares during the period. Alpha Windward LLC purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $522,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Valmont Industries by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 5,700 shares of the industrial products company’s stock worth $886,000 after buying an additional 100 shares during the period. 84.97% of the stock is currently owned by institutional investors and hedge funds.
Valmont Industries, Inc. (NYSE:VMI) traded down 0.03% during trading on Monday, hitting $151.35. 18,811 shares of the stock were exchanged. The stock 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 P/E ratio of 18.75 and a beta of 0.97.
Valmont Industries (NYSE:VMI) last announced its earnings results 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. The firm had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 EPS. Equities analysts expect that Valmont Industries, Inc. will post $7.10 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, June 28th. Valmont Industries’s payout ratio is currently 18.59%.
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A number of analysts have commented on VMI shares. Stifel Nicolaus raised shares of Valmont Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $160.00 to $167.00 in a research report on Monday, April 17th. William Blair reaffirmed a “market perform” rating on shares of Valmont Industries 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 target on the stock in a research report on Tuesday, April 25th. Finally, BidaskClub raised shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus 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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