Janney Montgomery Scott LLC Takes Position in Valmont Industries Inc. (VMI)
Janney Montgomery Scott LLC purchased a new position in shares of Valmont Industries Inc. (NYSE:VMI) during the second quarter, Holdings Channel reports. The fund purchased 1,720 shares of the company’s stock, valued at approximately $233,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Valmont Industries by 0.3% in the second quarter. SG Americas Securities LLC now owns 7,501 shares of the company’s stock worth $1,015,000 after buying an additional 20 shares during the period. Creative Planning boosted its position in shares of Valmont Industries by 0.5% in the first quarter. Creative Planning now owns 10,389 shares of the company’s stock worth $1,287,000 after buying an additional 54 shares during the period. M&T Bank Corp boosted its position in shares of Valmont Industries by 3.1% in the second quarter. M&T Bank Corp now owns 3,064 shares of the company’s stock worth $415,000 after buying an additional 93 shares during the period. CIBC World Markets Inc. boosted its position in shares of Valmont Industries by 2.4% in the first quarter. CIBC World Markets Inc. now owns 4,465 shares of the company’s stock worth $553,000 after buying an additional 106 shares during the period. Finally, Bridges Investment Management Inc. boosted its position in shares of Valmont Industries by 8.1% in the first quarter. Bridges Investment Management Inc. now owns 2,670 shares of the company’s stock worth $318,000 after buying an additional 200 shares during the period. 88.07% of the stock is owned by institutional investors.
Shares of Valmont Industries Inc. (NYSE:VMI) traded up 0.69% on Monday, reaching $127.55. 91,902 shares of the company’s stock traded hands. Valmont Industries Inc. has a 12-month low of $92.33 and a 12-month high of $145.94. The stock has a 50-day moving average price of $130.94 and a 200-day moving average price of $130.23. The company has a market cap of $2.89 billion, a PE ratio of 51.87 and a beta of 1.08.
Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Valmont Industries had a net margin of 2.26% and a return on equity of 13.91%. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $648.54 million. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts anticipate that Valmont Industries Inc. will post $6.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, September 28th. Valmont Industries’s dividend payout ratio is currently 60.48%.
A number of brokerages recently issued reports on VMI. Zacks Investment Research raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Credit Suisse Group AG reissued an “underperform” rating on shares of Valmont Industries in a research report on Wednesday, July 6th. Finally, TheStreet raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $124.67.
In other news, Director Clark T. Jr. Randt sold 381 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $130.10, for a total value of $49,568.10. Following the transaction, the director now directly owns 6,979 shares in the company, valued at $907,967.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by insiders.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
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