Russell Investments Group Ltd. Has $7 Million Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

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Russell Investments Group Ltd. boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 192.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 55,203 shares of the industrial products company’s stock after acquiring an additional 36,331 shares during the period. Russell Investments Group Ltd. owned 0.26% of Valmont Industries worth $6,998,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VMI. KBC Group NV grew its holdings in Valmont Industries by 55.1% during the 2nd quarter. KBC Group NV now owns 207,528 shares of the industrial products company’s stock worth $26,317,000 after acquiring an additional 73,744 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Valmont Industries by 26.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 304,607 shares of the industrial products company’s stock worth $39,629,000 after acquiring an additional 63,569 shares during the period. Robecosam AG grew its holdings in Valmont Industries by 29.7% during the 2nd quarter. Robecosam AG now owns 187,100 shares of the industrial products company’s stock worth $23,084,000 after acquiring an additional 42,856 shares during the period. First Pacific Advisors LP acquired a new stake in Valmont Industries during the 1st quarter worth $3,513,000. Finally, JPMorgan Chase & Co. grew its holdings in Valmont Industries by 64.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 67,412 shares of the industrial products company’s stock worth $8,317,000 after acquiring an additional 26,331 shares during the period. 85.61% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. TheStreet cut shares of Valmont Industries from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Zacks Investment Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $144.00 price target on the stock. in a research report on Saturday, July 27th. Finally, ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $148.50.

In related news, VP Mark C. Jaksich sold 7,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $137.19, for a total value of $1,028,925.00. Following the sale, the vice president now directly owns 24,187 shares of the company’s stock, valued at approximately $3,318,214.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daas Kaj Den sold 700 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $138.62, for a total transaction of $97,034.00. Following the completion of the sale, the director now directly owns 11,678 shares in the company, valued at $1,618,804.36. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Shares of NYSE VMI traded down $0.32 during midday trading on Thursday, reaching $144.07. 1,396 shares of the stock were exchanged, compared to its average volume of 140,609. The business has a 50-day simple moving average of $134.76 and a two-hundred day simple moving average of $129.30. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.65 and a beta of 1.42. Valmont Industries, Inc. has a 12 month low of $103.01 and a 12 month high of $144.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.71 and a quick ratio of 1.89.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.14). The firm had revenue of $700.90 million for the quarter, compared to the consensus estimate of $725.44 million. Valmont Industries had a return on equity of 14.86% and a net margin of 3.61%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.98 earnings per share. Equities research analysts expect that Valmont Industries, Inc. will post 8.51 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.04%. Valmont Industries’s dividend payout ratio is 19.79%.

About Valmont Industries

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.

See Also: Arbitrage

Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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