Castleark Management LLC Invests $11.74 Million in Valmont Industries, Inc. (VMI)

Castleark Management LLC bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 78,485 shares of the industrial products company’s stock, valued at approximately $11,741,000. Castleark Management LLC owned 0.35% of Valmont Industries as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of VMI. BlackRock Inc. grew its holdings in shares of Valmont Industries by 13,061.6% during the 1st quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after acquiring an additional 1,751,426 shares during the period. Pictet Asset Management Ltd. grew its holdings in shares of Valmont Industries by 90.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 407,665 shares of the industrial products company’s stock worth $59,682,000 after acquiring an additional 193,098 shares during the period. Prudential Financial Inc. grew its holdings in shares of Valmont Industries by 516.7% during the 2nd quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock worth $22,565,000 after acquiring an additional 126,375 shares during the period. Vanguard Group Inc. grew its holdings in shares of Valmont Industries by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,869,447 shares of the industrial products company’s stock worth $279,669,000 after acquiring an additional 90,745 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Valmont Industries during the 1st quarter worth approximately $14,026,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.

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Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The company had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. Valmont Industries’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s payout ratio is 18.59%.

A number of research firms have weighed in on VMI. Boenning Scattergood upgraded Valmont Industries from a “neutral” rating to an “outperform” rating in a report on Friday, August 11th. BidaskClub downgraded Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Stifel Nicolaus reiterated a “buy” rating and set a $171.00 target price on shares of Valmont Industries in a report on Friday, July 14th. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Seaport Global Securities started coverage on Valmont Industries in a research note on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $165.50.

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.

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

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