Valmont Industries, Inc. (VMI) Stake Lowered by Bahl & Gaynor Inc.
Bahl & Gaynor Inc. cut its holdings in Valmont Industries, Inc. (NYSE:VMI) by 10.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,568 shares of the industrial products company’s stock after selling 1,175 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Valmont Industries were worth $1,348,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of VMI. Janney Montgomery Scott LLC purchased a new stake in shares of Valmont Industries in the first quarter valued at approximately $207,000. Wells Fargo & Company MN increased its position in shares of Valmont Industries by 7.7% in the first quarter. Wells Fargo & Company MN now owns 11,540 shares of the industrial products company’s stock valued at $1,795,000 after buying an additional 826 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Valmont Industries by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 13,430 shares of the industrial products company’s stock valued at $2,087,000 after buying an additional 534 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Valmont Industries by 1.1% in the first quarter. State Treasurer State of Michigan now owns 9,200 shares of the industrial products company’s stock valued at $1,431,000 after buying an additional 100 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Valmont Industries by 1.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,424 shares of the industrial products company’s stock valued at $4,420,000 after buying an additional 497 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.
Shares of Valmont Industries, Inc. (NYSE:VMI) opened at 150.40 on Friday. The company’s 50 day moving average price is $148.02 and its 200 day moving average price is $150.56. The stock has a market capitalization of $3.40 billion, a PE ratio of 18.63 and a beta of 0.98. Valmont Industries, Inc. has a 12 month low of $120.65 and a 12 month high of $165.20.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.96 by $0.05. The business had revenue of $712.70 million during 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. Equities analysts anticipate that Valmont Industries, Inc. will post $7.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.00%. Valmont Industries’s dividend payout ratio is currently 18.59%.
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VMI has been the subject of a number of recent analyst reports. Zacks Investment Research cut Valmont Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. BidaskClub upgraded Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Seaport Global Securities initiated coverage on Valmont Industries in a research report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Boenning Scattergood restated an “outperform” rating on shares of Valmont Industries in a research report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Valmont Industries presently has a consensus rating of “Hold” and an average price target of $165.33.
Valmont Industries 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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