Northern Trust Corp reduced its position in Valmont Industries, Inc. (NYSE:VMI) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,867 shares of the industrial products company’s stock after selling 1,870 shares during the period. Northern Trust Corp owned approximately 0.95% of Valmont Industries worth $32,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Valmont Industries by 13,061.6% during the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock valued at $274,432,000 after purchasing an additional 1,751,426 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in Valmont Industries by 90.0% during the second quarter. Pictet Asset Management Ltd. now owns 407,665 shares of the industrial products company’s stock valued at $59,682,000 after purchasing an additional 193,098 shares in the last quarter. Prudential Financial Inc. lifted its position in Valmont Industries by 516.7% during the second quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock valued at $22,565,000 after purchasing an additional 126,375 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Valmont Industries during the first quarter valued at $14,026,000. Finally, Wells Fargo & Company MN lifted its position in Valmont Industries by 778.6% during the second quarter. Wells Fargo & Company MN now owns 101,387 shares of the industrial products company’s stock valued at $15,168,000 after purchasing an additional 89,847 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.
Valmont Industries, Inc. (NYSE VMI) traded down 0.53% during mid-day trading on Friday, reaching $159.35. The company’s stock had a trading volume of 7,436 shares. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.74 and a beta of 0.99. Valmont Industries, Inc. has a 52 week low of $121.05 and a 52 week high of $165.20. The company’s 50-day moving average price is $156.03 and its 200 day moving average price is $151.54.
Valmont Industries (NYSE:VMI) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). The business had revenue of $680.78 million during the quarter, compared to analyst estimates of $652.65 million. Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. Valmont Industries’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. On average, equities analysts forecast that Valmont Industries, Inc. will post $6.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 28th. Valmont Industries’s dividend payout ratio (DPR) is currently 17.90%.
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VMI has been the topic of several research analyst reports. Boenning Scattergood restated a “buy” rating and issued a $185.00 price objective on shares of Valmont Industries in a research report on Thursday, October 19th. Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 price objective on the stock in a research report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $183.00 target price on shares of Valmont Industries in a research note on Tuesday, October 17th. Seaport Global Securities assumed coverage on Valmont Industries in a research note on Wednesday, September 6th. They set a “buy” rating and a $160.00 target price on the stock. Finally, BidaskClub upgraded Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Valmont Industries presently has a consensus rating of “Hold” and a consensus price target of $176.50.
About Valmont Industries
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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