Valmont Industries, Inc. $VMI Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Valmont Industries holdings by 38.7% in the second quarter, selling 2,821 shares and retaining 4,465 shares worth approximately $2.58 million. Institutional investors and hedge funds collectively own 87.84% of the company.
• Valmont reported quarterly EPS of $6.14, exceeding the $5.80 consensus estimate, while revenue rose 6.5% year over year to $1.12 billion. The company also declared a quarterly dividend of $0.77 per share, representing a 0.7% yield.
• VMI shares opened at $472.66, down 2.2%, while analysts maintained a consensus “Moderate Buy” rating and a $587 price target. Recent insider activity included a CFO purchase and a director sale.

Engineers Gate Manager LP decreased its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,465 shares of the industrial products company's stock after selling 2,821 shares during the period. Engineers Gate Manager LP's holdings in Valmont Industries were worth $2,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of VMI. Parkside Financial Bank & Trust lifted its position in shares of Valmont Industries by 6.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 349 shares of the industrial products company's stock worth $202,000 after buying an additional 21 shares during the last quarter. Allen Capital Group LLC grew its position in shares of Valmont Industries by 2.2% during the 4th quarter. Allen Capital Group LLC now owns 1,130 shares of the industrial products company's stock valued at $455,000 after buying an additional 24 shares during the last quarter. Rothschild Investment LLC raised its stake in Valmont Industries by 7.1% during the fourth quarter. Rothschild Investment LLC now owns 453 shares of the industrial products company's stock worth $182,000 after acquiring an additional 30 shares during the period. Balefire LLC raised its stake in Valmont Industries by 5.1% during the first quarter. Balefire LLC now owns 701 shares of the industrial products company's stock worth $280,000 after acquiring an additional 34 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in Valmont Industries by 5.6% in the first quarter. HB Wealth Management LLC now owns 676 shares of the industrial products company's stock worth $270,000 after acquiring an additional 36 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Valmont Industries

In other Valmont Industries news, CFO John L. Schwietz purchased 208 shares of Valmont Industries stock in a transaction on Thursday, July 23rd. The stock was bought at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the transaction, the chief financial officer owned 2,992 shares of the company's stock, valued at $1,454,530.88. The trade was a 7.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Theodor Freye sold 800 shares of the business's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the transaction, the director owned 2,805 shares of the company's stock, valued at $1,388,475. This trade represents a 22.19% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is owned by company insiders.

Valmont Industries Trading Down 2.2%

Shares of NYSE:VMI opened at $472.66 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The company's 50-day moving average price is $495.57 and its 200 day moving average price is $487.17. The company has a market cap of $9.12 billion, a PE ratio of 18.41, a P/E/G ratio of 1.10 and a beta of 1.34. Valmont Industries, Inc. has a fifty-two week low of $361.50 and a fifty-two week high of $585.71.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, topping the consensus estimate of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $4.88 EPS. Valmont Industries's quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Valmont Industries, Inc. will post 23.08 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries's dividend payout ratio is 11.99%.

Wall Street Analyst Weigh In

A number of brokerages have commented on VMI. Oppenheimer set a $600.00 target price on Valmont Industries and gave the company an "outperform" rating in a research note on Thursday, May 28th. Wall Street Zen cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Zacks Research downgraded Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings upgraded Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Finally, Stifel Nicolaus upped their price objective on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $587.00.

About Valmont Industries

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through its Infrastructure and Agriculture segments.

Valmont's Infrastructure segment provides utility and substation structures, engineered poles, lighting and traffic structures, wireless communication infrastructure, transportation products, and protective coatings for steel and other materials.

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