Valmont Industries, Inc. $VMI Stock Sold by Leeward Investments LLC MA

Key Points

• Leeward Investments LLC MA reduced its Valmont Industries stake by 6.2% in the third quarter, selling 3,511 shares and retaining 52,665 shares worth approximately $24.4 million. Institutional investors and hedge funds own 87.84% of VMI’s outstanding stock.
• Analyst sentiment remains favorable, with four Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $587.
• Valmont reported quarterly earnings of $6.24 per share, beating estimates of $5.70, while revenue rose 5.5% year over year to $1.10 billion. Shares opened at $435.44, below their 50-day and 200-day moving averages.

Leeward Investments LLC MA reduced its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,665 shares of the industrial products company's stock after selling 3,511 shares during the period. Valmont Industries comprises approximately 1.2% of Leeward Investments LLC MA's investment portfolio, making the stock its 14th largest position. Leeward Investments LLC MA owned 0.27% of Valmont Industries worth $24,383,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Robeco Schweiz AG acquired a new stake in Valmont Industries in the third quarter valued at approximately $1,822,000. Signaturefd LLC grew its stake in shares of Valmont Industries by 82.3% during the third quarter. Signaturefd LLC now owns 514 shares of the industrial products company's stock worth $238,000 after buying an additional 232 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of Valmont Industries by 96.1% during the third quarter. Simplicity Wealth LLC now owns 1,514 shares of the industrial products company's stock worth $701,000 after buying an additional 742 shares during the last quarter. Gibbs Wealth Management grew its stake in shares of Valmont Industries by 1.4% during the third quarter. Gibbs Wealth Management now owns 1,720 shares of the industrial products company's stock worth $796,000 after buying an additional 24 shares during the last quarter. Finally, RWC Asset Management LLP increased its holdings in shares of Valmont Industries by 3.4% during the third quarter. RWC Asset Management LLP now owns 1,154 shares of the industrial products company's stock worth $534,000 after buying an additional 38 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VMI has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised their price objective on Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, July 22nd. Zacks Research lowered Valmont Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Wall Street Zen upgraded Valmont Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings raised Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $587.00.

Valmont Industries Stock Up 0.1%

Shares of NYSE VMI opened at $435.44 on Monday. The company has a 50 day simple moving average of $471.02 and a 200 day simple moving average of $496.65. The firm has a market cap of $8.41 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. Valmont Industries, Inc. has a 1 year low of $378.02 and a 1 year high of $585.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.41 and a quick ratio of 1.56.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, topping the consensus estimate of $5.70 by $0.54. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $4.98 EPS. The firm's revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Valmont Industries, Inc. will post 23.27 EPS for the current year.

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 businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.

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