SummitTX Capital L.P. Raises Position in Valmont Industries, Inc. $VMI

SummitTX Capital L.P. grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 95.8% in the first quarter, HoldingsChannel reports. The fund owned 5,554 shares of the industrial products company’s stock after purchasing an additional 2,717 shares during the quarter. SummitTX Capital L.P.’s holdings in Valmont Industries were worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of VMI. Robert B. Daugherty Foundation bought a new position in Valmont Industries in the 4th quarter worth $100,580,000. Norges Bank bought a new stake in Valmont Industries during the fourth quarter valued at about $99,799,000. Ninety One UK Ltd bought a new stake in Valmont Industries during the fourth quarter valued at about $66,103,000. AQR Capital Management LLC increased its position in Valmont Industries by 118.8% in the third quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock worth $108,884,000 after buying an additional 153,418 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Valmont Industries by 179.6% in the second quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company’s stock worth $38,320,000 after buying an additional 75,377 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

NYSE:VMI opened at $478.68 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $537.78 and its two-hundred day simple moving average is $479.62. The stock has a market cap of $9.29 billion, a PE ratio of 18.64, a P/E/G ratio of 1.13 and a beta of 1.33. Valmont Industries, Inc. has a 52 week low of $353.41 and a 52 week high of $585.71.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.88 earnings per share. As a group, analysts forecast that Valmont Industries, Inc. will post 22.96 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries’s payout ratio is currently 11.99%.

Insider Transactions at Valmont Industries

In related news, CFO John L. Schwietz acquired 208 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was acquired at an average cost of $486.14 per share, with a total value of $101,117.12. Following the acquisition, the chief financial officer directly owned 2,992 shares in the company, valued at $1,454,530.88. This represents a 7.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VMI has been the topic of a number of analyst reports. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.