Valmont Industries, Inc. (VMI) Holdings Boosted by Principal Financial Group Inc.
Principal Financial Group Inc. raised its holdings in Valmont Industries, Inc. (NYSE:VMI) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,396 shares of the industrial products company’s stock after purchasing an additional 622 shares during the period. Principal Financial Group Inc. owned about 0.43% of Valmont Industries worth $15,240,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Global X Management Co. LLC raised its position in shares of Valmont Industries by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 495 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Valmont Industries by 85.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after buying an additional 599 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Valmont Industries by 0.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after buying an additional 8 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Valmont Industries during the 2nd quarter worth $212,000. Finally, Verity Asset Management Inc. grew its stake in shares of 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 worth $238,000 after purchasing an additional 119 shares in the last quarter. 85.26% of the stock is currently owned by institutional investors.
Shares of Valmont Industries, Inc. (NYSE:VMI) traded up $3.10 during trading on Wednesday, reaching $169.95. The company had a trading volume of 98,700 shares, compared to its average volume of 131,469. The stock has a market cap of $3,761.92, a P/E ratio of 24.26, a P/E/G ratio of 2.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.53 and a current ratio of 3.50. Valmont Industries, Inc. has a 1 year low of $135.95 and a 1 year high of $170.20.
Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.04). Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The firm had revenue of $680.78 million during the quarter, compared to analyst estimates of $652.65 million. During the same period in the previous year, the company earned $1.48 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. research analysts forecast that Valmont Industries, Inc. will post 6.98 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Boenning Scattergood reissued a “buy” rating and issued a $185.00 price target on shares of Valmont Industries in a research note on Friday, November 10th. Zacks Investment Research upgraded Valmont Industries from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Stifel Nicolaus restated a “buy” rating and issued a $183.00 price objective on shares of Valmont Industries in a report on Tuesday, October 17th. Seaport Global Securities started coverage on Valmont Industries in a report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, BidaskClub lowered Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $176.50.
Valmont Industries Company Profile
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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