Valmont Industries, Inc. $VMI Holdings Lowered by Engineers Gate Manager LP

Engineers Gate Manager LP reduced its stake in Valmont Industries, Inc. (NYSE:VMI) by 38.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,465 shares of the industrial products company’s stock after selling 2,821 shares during the period. Engineers Gate Manager LP’s holdings in Valmont Industries were worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Valmont Industries by 56,102.4% during the second quarter. California State Teachers Retirement System now owns 13,046,829 shares of the industrial products company’s stock valued at $7,535,848,000 after acquiring an additional 13,023,615 shares during the period. BlackRock Inc. bought a new stake in Valmont Industries during the second quarter worth approximately $1,141,369,000. Geode Capital Management LLC lifted its position in Valmont Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company’s stock worth $148,509,000 after purchasing an additional 12,480 shares during the period. Bank of America Corp DE acquired a new stake in Valmont Industries in the second quarter worth approximately $175,408,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Valmont Industries by 3.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock valued at $100,933,000 after purchasing an additional 9,130 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Valmont Industries Trading Down 2.2%

NYSE:VMI opened at $472.66 on Tuesday. The stock has a fifty day simple moving average of $495.57 and a 200 day simple moving average of $487.17. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34. Valmont Industries, Inc. has a 1-year low of $361.50 and a 1-year high of $585.71. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.34. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.88 EPS. Sell-side analysts forecast that Valmont Industries, Inc. will post 23.08 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s dividend payout ratio (DPR) is 11.99%.

Insider Activity at Valmont Industries

In other news, CFO John Schwietz purchased 208 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the acquisition, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at $1,454,530.88. The trade was a 7.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodor Freye sold 800 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the sale, the director owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VMI. Stifel Nicolaus lifted their price target on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Wall Street Zen cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Valmont Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Company Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through its Infrastructure and Agriculture segments.

Valmont’s Infrastructure segment provides utility and substation structures, engineered poles, lighting and traffic structures, wireless communication infrastructure, transportation products, and protective coatings for steel and other materials.