Valmont Industries, Inc. (VMI) Position Cut by Shufro Rose & Co. LLC
Shufro Rose & Co. LLC reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 48,700 shares of the industrial products company’s stock after selling 1,515 shares during the period. Shufro Rose & Co. LLC’s holdings in Valmont Industries were worth $7,285,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in VMI. UBS Asset Management Americas Inc. increased its stake in shares of Valmont Industries by 13.2% in the first quarter. UBS Asset Management Americas Inc. now owns 22,463 shares of the industrial products company’s stock worth $3,493,000 after buying an additional 2,611 shares in the last quarter. Pinnacle Bank bought a new stake in shares of Valmont Industries during the first quarter worth $117,000. Legal & General Group Plc increased its stake in shares of Valmont Industries by 54.6% in the first quarter. Legal & General Group Plc now owns 22,867 shares of the industrial products company’s stock worth $3,555,000 after buying an additional 8,076 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Valmont Industries during the first quarter worth $715,000. Finally, Morgan Stanley increased its stake in shares of Valmont Industries by 78.1% in the first quarter. Morgan Stanley now owns 142,825 shares of the industrial products company’s stock worth $22,209,000 after buying an additional 62,613 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Valmont Industries, Inc. (NYSE:VMI) opened at 148.45 on Monday. The company has a 50-day moving average of $151.49 and a 200-day moving average of $150.53. Valmont Industries, Inc. has a 52 week low of $120.65 and a 52 week high of $165.20. The stock has a market capitalization of $3.35 billion, a P/E ratio of 18.39 and a beta of 0.97.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The business had revenue of $712.70 million for the quarter, compared to analysts’ expectations of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 EPS. On average, analysts anticipate that Valmont Industries, Inc. will post $7.10 EPS for the current year.
A number of equities research analysts recently weighed in on VMI shares. William Blair reaffirmed a “market perform” rating on shares of Valmont Industries in a research note on Sunday, April 23rd. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. BidaskClub raised shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus raised their target price on shares of Valmont Industries from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Sunday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $168.00.
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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