Renaissance Technologies LLC Acquires 48,400 Shares of Valmont Industries, Inc. (NYSE:VMI)

Renaissance Technologies LLC increased its holdings in Valmont Industries, Inc. (NYSE:VMI) by 105.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,500 shares of the industrial products company’s stock after acquiring an additional 48,400 shares during the period. Renaissance Technologies LLC’s holdings in Valmont Industries were worth $11,984,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VMI. Atria Investments LLC bought a new position in shares of Valmont Industries in the second quarter valued at approximately $6,861,000. KBC Group NV grew its holdings in shares of Valmont Industries by 55.1% in the second quarter. KBC Group NV now owns 207,528 shares of the industrial products company’s stock valued at $26,317,000 after acquiring an additional 73,744 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Valmont Industries by 26.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 304,607 shares of the industrial products company’s stock valued at $39,629,000 after acquiring an additional 63,569 shares in the last quarter. Robecosam AG grew its holdings in shares of Valmont Industries by 29.7% in the second quarter. Robecosam AG now owns 187,100 shares of the industrial products company’s stock valued at $23,084,000 after acquiring an additional 42,856 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Valmont Industries by 192.5% in the second quarter. Russell Investments Group Ltd. now owns 55,203 shares of the industrial products company’s stock valued at $6,998,000 after acquiring an additional 36,331 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Several equities analysts have weighed in on VMI shares. Zacks Investment Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $144.00 price objective for the company. in a report on Saturday, July 27th. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Finally, TheStreet raised Valmont Industries from a “c+” rating to a “b” rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $148.50.

In other Valmont Industries news, VP Mark C. Jaksich sold 7,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $137.19, for a total transaction of $1,028,925.00. Following the sale, the vice president now owns 24,187 shares in the company, valued at $3,318,214.53. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daas Kaj Den sold 700 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $138.62, for a total value of $97,034.00. Following the sale, the director now owns 11,678 shares in the company, valued at approximately $1,618,804.36. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

NYSE VMI traded down $1.66 on Friday, hitting $137.25. 256,582 shares of the stock traded hands, compared to its average volume of 124,559. The business’s fifty day moving average is $135.34 and its two-hundred day moving average is $129.51. Valmont Industries, Inc. has a 12 month low of $103.01 and a 12 month high of $146.46. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.65 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.89 and a current ratio of 2.71.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.14). Valmont Industries had a net margin of 3.61% and a return on equity of 14.86%. The firm had revenue of $700.90 million for the quarter, compared to the consensus estimate of $725.44 million. During the same period last year, the company posted $1.98 earnings per share. Valmont Industries’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Valmont Industries, Inc. will post 8.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, September 26th. Valmont Industries’s dividend payout ratio (DPR) is 19.79%.

About Valmont Industries

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.

Further Reading: Growth Stocks

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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