ProShare Advisors LLC Sells 342 Shares of Valmont Industries, Inc. (VMI)
ProShare Advisors LLC trimmed its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 16.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,692 shares of the industrial products company’s stock after selling 342 shares during the period. ProShare Advisors LLC’s holdings in Valmont Industries were worth $253,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in VMI. Global X Management Co. LLC boosted its position in Valmont Industries by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after buying an additional 495 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Valmont Industries by 85.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after buying an additional 599 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Valmont Industries by 0.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after buying an additional 8 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Valmont Industries in the 2nd quarter valued at $212,000. Finally, Nomura Holdings Inc. bought a new position in Valmont Industries in the 1st quarter valued at $267,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.
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, 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 the consensus estimate of $668.06 million. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 EPS.
The business also recently declared 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 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s dividend payout ratio is presently 18.59%.
Several research analysts have recently issued reports on the company. Boenning Scattergood restated a “hold” rating on shares of Valmont Industries in a research report on Thursday, July 20th. Stifel Nicolaus reiterated a “buy” rating and set a $171.00 target price on shares of Valmont Industries in a report on Friday, July 14th. BidaskClub lowered Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Seaport Global Securities assumed coverage on Valmont Industries in a report on Wednesday, September 6th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Zacks Investment Research lowered Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Valmont Industries currently has a consensus rating of “Hold” and a consensus price target of $165.50.
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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