Kovitz Investment Group Partners LLC Sells 3,440 Shares of Valmont Industries, Inc. (VMI)

Kovitz Investment Group Partners LLC decreased its position in Valmont Industries, Inc. (NYSE:VMI) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 316,147 shares of the industrial products company’s stock after selling 3,440 shares during the period. Valmont Industries accounts for about 2.5% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 19th largest position. Kovitz Investment Group Partners LLC’s holdings in Valmont Industries were worth $47,295,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Global X Management Co. LLC boosted its stake in Valmont Industries by 220.0% in the second quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock worth $108,000 after buying an additional 495 shares during the last quarter. Pinnacle Bank bought a new stake in Valmont Industries during the first quarter worth $117,000. Janney Montgomery Scott LLC boosted its stake in Valmont Industries by 0.6% in the second 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. Gofen & Glossberg LLC IL bought a new stake in Valmont Industries during the first quarter worth $205,000. Finally, Timber Hill LLC bought a new stake in Valmont Industries during the first quarter worth $209,000. 84.97% of the stock is owned by institutional investors.

Shares of Valmont Industries, Inc. (VMI) opened at 151.60 on Wednesday. Valmont Industries, Inc. has a 52-week low of $120.65 and a 52-week high of $165.20. The firm has a market capitalization of $3.42 billion, a PE ratio of 18.78 and a beta of 0.97. The firm’s 50-day moving average price is $151.37 and its 200-day moving average price is $150.19.

Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.05. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The company had revenue of $712.70 million during the quarter, compared to the consensus estimate of $668.06 million. During the same period in the previous year, the firm posted $1.85 earnings per share. Valmont Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Valmont Industries, Inc. will post $7.10 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.50 dividend on an annualized basis and a yield of 0.99%. Valmont Industries’s payout ratio is currently 18.59%.

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A number of analysts have weighed in on VMI shares. Stifel Nicolaus increased their price objective on Valmont Industries from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Sunday, April 23rd. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $168.00.

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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