ING Groep NV bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,426 shares of the industrial products company’s stock, valued at approximately $475,000.

A number of other hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its stake in Valmont Industries by 101.3% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 795 shares of the industrial products company’s stock worth $120,000 after buying an additional 400 shares during the last quarter. Meadow Creek Investment Management LLC grew its stake in Valmont Industries by 13.7% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 3,672 shares of the industrial products company’s stock worth $554,000 after buying an additional 442 shares during the last quarter. Retirement Systems of Alabama grew its stake in Valmont Industries by 0.9% during the 2nd quarter. Retirement Systems of Alabama now owns 64,497 shares of the industrial products company’s stock worth $9,723,000 after buying an additional 594 shares during the last quarter. UBS Group AG grew its stake in Valmont Industries by 6.5% during the 1st quarter. UBS Group AG now owns 10,368 shares of the industrial products company’s stock worth $1,517,000 after buying an additional 630 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Valmont Industries by 39.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,430 shares of the industrial products company’s stock worth $366,000 after buying an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

In other Valmont Industries news, SVP John A. Kehoe sold 3,059 shares of Valmont Industries stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $137.50, for a total transaction of $420,612.50. Following the completion of the sale, the senior vice president now owns 2,911 shares of the company’s stock, valued at approximately $400,262.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Shares of VMI opened at $123.34 on Wednesday. Valmont Industries, Inc. has a one year low of $111.83 and a one year high of $176.35. The company has a quick ratio of 2.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.87 and a beta of 1.06.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.04. Valmont Industries had a return on equity of 14.39% and a net margin of 2.63%. The company had revenue of $678.63 million during the quarter, compared to analysts’ expectations of $677.34 million. During the same quarter in the previous year, the firm posted $1.56 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts expect that Valmont Industries, Inc. will post 7.57 earnings per share for the current year.

Valmont Industries announced that its Board of Directors has approved a share buyback program on Wednesday, October 31st that permits the company to buyback $250.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Several brokerages recently weighed in on VMI. ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Boenning Scattergood restated a “hold” rating on shares of Valmont Industries in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Valmont Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. TheStreet downgraded Valmont Industries from a “b-” rating to a “c+” rating in a research note on Thursday, October 4th. Finally, Stifel Nicolaus boosted their target price on Valmont Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $173.33.

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Valmont Industries Company Profile

Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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