Argent Capital Management LLC maintained its stake in Valmont Industries, Inc. (NYSE:VMI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,652 shares of the industrial products company’s stock at the close of the second quarter. Argent Capital Management LLC’s holdings in Valmont Industries were worth $397,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Global X Management Co. LLC lifted its stake in Valmont Industries by 220.0% in the second quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after buying an additional 495 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Valmont Industries by 85.6% in the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after buying an additional 599 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Valmont Industries by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after buying an additional 8 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Valmont Industries in the second quarter valued at approximately $212,000. Finally, Verity Asset Management Inc. lifted its stake in Valmont Industries by 8.1% in the second quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock valued at $238,000 after buying an additional 119 shares in the last quarter. 83.57% of the stock is currently owned by hedge funds and other institutional investors.
Valmont Industries, Inc. (VMI) traded down 0.41% during mid-day trading on Wednesday, hitting $159.45. 6,269 shares of the stock were exchanged. The company has a market capitalization of $3.60 billion, a PE ratio of 23.24 and a beta of 0.99. Valmont Industries, Inc. has a 1-year low of $120.65 and a 1-year high of $165.20. The stock has a 50 day moving average price of $151.64 and a 200 day moving average price of $151.04.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, beating the 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 analysts’ expectations of $668.06 million. During the same period last year, the business earned $1.85 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Valmont Industries, Inc. will post $7.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.94%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 18.59%.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Valmont Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Boenning Scattergood raised shares of Valmont Industries from a “neutral” rating to an “outperform” rating in a research note on Friday, August 11th. BidaskClub raised shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Seaport Global Securities assumed coverage on shares of Valmont Industries in a research note on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $171.00 price target on shares of Valmont Industries in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $165.50.
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About Valmont Industries
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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