Fifth Third Bancorp Increases Position in Valmont Industries, Inc. (NYSE:VMI)
Fifth Third Bancorp lifted its holdings in Valmont Industries, Inc. (NYSE:VMI) by 310.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 410 shares of the industrial products company’s stock after purchasing an additional 310 shares during the period. Fifth Third Bancorp’s holdings in Valmont Industries were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Valmont Industries by 18.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,896 shares of the industrial products company’s stock valued at $2,003,000 after purchasing an additional 2,965 shares in the last quarter. Creative Planning increased its stake in shares of Valmont Industries by 10.3% in the 1st quarter. Creative Planning now owns 8,003 shares of the industrial products company’s stock valued at $848,000 after purchasing an additional 747 shares in the last quarter. Aperio Group LLC increased its stake in Valmont Industries by 102.7% during the 1st quarter. Aperio Group LLC now owns 12,131 shares of the industrial products company’s stock worth $1,286,000 after buying an additional 6,146 shares in the last quarter. American International Group Inc. increased its stake in Valmont Industries by 1.0% during the 1st quarter. American International Group Inc. now owns 41,973 shares of the industrial products company’s stock worth $4,448,000 after buying an additional 431 shares in the last quarter. Finally, Yacktman Asset Management LP purchased a new stake in Valmont Industries during the 1st quarter worth approximately $1,697,000. Hedge funds and other institutional investors own 87.85% of the company’s stock.
VMI stock opened at $107.05 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 1.78. The business has a 50 day simple moving average of $109.30 and a 200-day simple moving average of $129.69. The firm has a market capitalization of $2.27 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. Valmont Industries, Inc. has a 1 year low of $82.60 and a 1 year high of $154.86.
Several research firms have commented on VMI. 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 note on Friday, April 24th. DA Davidson cut their price objective on Valmont Industries from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $132.33.
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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