Rhumbline Advisers Has $6.18 Million Position in Valmont Industries, Inc. (VMI)
Rhumbline Advisers lowered its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 10.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,300 shares of the industrial products company’s stock after selling 4,707 shares during the period. Rhumbline Advisers owned 0.18% of Valmont Industries worth $6,178,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of VMI. BlackRock Inc. boosted its position in shares of Valmont Industries by 13,061.6% in the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after buying an additional 1,751,426 shares in the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of Valmont Industries during the first quarter worth about $33,365,000. Bank of New York Mellon Corp boosted its position in shares of Valmont Industries by 55.3% in the first quarter. Bank of New York Mellon Corp now owns 413,659 shares of the industrial products company’s stock worth $64,324,000 after buying an additional 147,339 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Valmont Industries during the first quarter worth about $14,376,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Valmont Industries during the first quarter worth about $14,026,000. Hedge funds and other institutional investors own 83.98% of the company’s stock.
Valmont Industries, Inc. (NYSE VMI) opened at 142.45 on Wednesday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 17.65 and a beta of 0.97. Valmont Industries, Inc. has a 52-week low of $120.65 and a 52-week high of $165.20. The company’s 50 day moving average is $150.84 and its 200-day moving average is $150.69.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.05. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The business had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Valmont Industries, Inc. will post $7.09 EPS for the current fiscal year.
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VMI has been the subject of a number of analyst reports. BidaskClub upgraded shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a report on Friday, May 12th. Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a report on Thursday, July 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $171.00 price objective on shares of Valmont Industries in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $168.00.
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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