Bank of New York Mellon Corp raised its stake in Valmont Industries, Inc. (NYSE:VMI) by 12.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,743 shares of the industrial products company’s stock after acquiring an additional 49,133 shares during the period. Bank of New York Mellon Corp owned approximately 2.06% of Valmont Industries worth $46,605,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of VMI. Chevy Chase Trust Holdings Inc. bought a new position in shares of Valmont Industries in the 4th quarter valued at $32,000. Banque Cantonale Vaudoise bought a new position in shares of Valmont Industries in the 4th quarter valued at $33,000. Penserra Capital Management LLC bought a new position in shares of Valmont Industries in the 4th quarter valued at $39,000. Fifth Third Bancorp increased its stake in shares of Valmont Industries by 310.0% in the 1st quarter. Fifth Third Bancorp now owns 410 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 310 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new position in shares of Valmont Industries in the 4th quarter valued at $219,000. Institutional investors own 87.85% of the company’s stock.
A number of equities research analysts recently weighed in on the company. DA Davidson reduced their price objective on Valmont Industries from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Stifel Nicolaus boosted their price objective on Valmont Industries from $114.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Finally, ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $132.33.
Shares of VMI stock opened at $107.05 on Friday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.54 and a beta of 1.29. Valmont Industries, Inc. has a twelve month low of $82.60 and a twelve month high of $154.86. The company has a quick ratio of 1.78, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $109.30 and its 200 day simple moving average is $129.69.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.60. Valmont Industries had a return on equity of 15.00% and a net margin of 5.83%. The firm had revenue of $674.20 million for the quarter, compared to analyst estimates of $674.66 million. During the same quarter in the previous year, the company posted $1.84 EPS. The business’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts expect that Valmont Industries, Inc. will post 6.36 EPS for the current fiscal year.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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