Renaissance Technologies LLC Sells 10,000 Shares of Valmont Industries, Inc. (NYSE:VMI)

Renaissance Technologies LLC reduced its stake in Valmont Industries, Inc. (NYSE:VMI) by 16.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,500 shares of the industrial products company’s stock after selling 10,000 shares during the period. Renaissance Technologies LLC owned 0.26% of Valmont Industries worth $14,134,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Valmont Industries by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company’s stock valued at $114,919,000 after purchasing an additional 14,168 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Valmont Industries by 32.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 54,057 shares of the industrial products company’s stock worth $14,836,000 after buying an additional 13,311 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Valmont Industries during the 2nd quarter worth $962,000. Wambolt & Associates LLC increased its stake in shares of Valmont Industries by 10.1% during the second quarter. Wambolt & Associates LLC now owns 4,999 shares of the industrial products company’s stock valued at $1,340,000 after buying an additional 460 shares during the period. Finally, Beverly Hills Private Wealth LLC bought a new stake in shares of Valmont Industries in the second quarter valued at about $399,000. 87.84% of the stock is currently owned by institutional investors.

Insider Transactions at Valmont Industries

In related news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the transaction, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Valmont Industries Stock Down 0.8 %

Shares of Valmont Industries stock opened at $282.08 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The company has a market cap of $5.70 billion, a P/E ratio of 37.16 and a beta of 1.03. The firm’s 50 day moving average price is $281.62 and its 200-day moving average price is $255.98. Valmont Industries, Inc. has a 52-week low of $188.63 and a 52-week high of $307.67.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.72. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. On average, sell-side analysts predict that Valmont Industries, Inc. will post 16.76 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, September 27th. Valmont Industries’s dividend payout ratio is presently 31.62%.

Analyst Upgrades and Downgrades

VMI has been the topic of a number of research reports. DA Davidson raised their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $332.50.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.