WBI Investments Inc. Buys Shares of 30,051 Valmont Industries, Inc. (VMI)
WBI Investments Inc. bought a new stake in shares of Valmont Industries, Inc. (NYSE:VMI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 30,051 shares of the industrial products company’s stock, valued at approximately $4,496,000. WBI Investments Inc. owned 0.13% of Valmont Industries at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Global X Management Co. LLC lifted its position in Valmont Industries by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 495 shares during the period. Riverhead Capital Management LLC lifted its position in Valmont Industries by 85.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 599 shares during the period. Gofen & Glossberg LLC IL acquired a new position in Valmont Industries during the 1st quarter valued at about $205,000. Janney Montgomery Scott LLC acquired a new position in Valmont Industries during the 1st quarter valued at about $207,000. Finally, Timber Hill LLC acquired a new position in Valmont Industries during the 1st quarter valued at about $209,000. Institutional investors own 83.98% of the company’s stock.
Valmont Industries, Inc. (VMI) traded down 0.60% on Wednesday, reaching $148.15. 3,681 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $148.56 and its 200 day moving average is $150.68. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 18.35 and a beta of 0.98. Valmont Industries, Inc. has a 52 week low of $120.65 and a 52 week high of $165.20.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The company 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 business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.85 earnings per share. On average, equities analysts anticipate that Valmont Industries, Inc. will post $7.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, September 28th. Valmont Industries’s dividend payout ratio is currently 18.59%.
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A number of research firms have issued reports on VMI. Seaport Global Securities began coverage on shares of Valmont Industries in a research report on Wednesday, September 6th. They set a “buy” rating and a $160.00 target price on the stock. Boenning Scattergood restated an “outperform” rating on shares of Valmont Industries in a research report on Tuesday, September 5th. BidaskClub downgraded shares of Valmont Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $171.00 target price on shares of Valmont Industries in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $165.33.
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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