Summit Global Investments Reduces Stock Holdings in Valmont Industries, Inc. $VMI

Summit Global Investments reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 53.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,638 shares of the industrial products company’s stock after selling 1,908 shares during the quarter. Summit Global Investments’ holdings in Valmont Industries were worth $635,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Valmont Industries by 225.1% in the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock worth $19,300,000 after buying an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Valmont Industries by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock worth $16,873,000 after acquiring an additional 4,676 shares during the period. Empowered Funds LLC purchased a new position in shares of Valmont Industries during the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Valmont Industries by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after acquiring an additional 2,639 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 105 shares during the period. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

NYSE VMI opened at $445.60 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. Valmont Industries, Inc. has a twelve month low of $250.07 and a twelve month high of $453.07. The business has a 50-day moving average price of $421.57 and a 200-day moving average price of $396.42. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 38.38 and a beta of 1.20.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VMI shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Valmont Industries in a report on Monday, December 29th. Wall Street Zen upgraded Valmont Industries from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. DA Davidson raised their price objective on Valmont Industries from $400.00 to $415.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus boosted their price objective on Valmont Industries from $491.00 to $492.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $462.33.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.