Summit Global Investments Cuts Position in Valmont Industries, Inc. $VMI

Summit Global Investments decreased its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 53.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,638 shares of the industrial products company’s stock after selling 1,908 shares during the period. Summit Global Investments’ holdings in Valmont Industries were worth $635,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VMI. Ballentine Partners LLC bought a new position in Valmont Industries during the 3rd quarter valued at approximately $212,000. Federated Hermes Inc. grew its stake in shares of Valmont Industries by 8.5% in the third quarter. Federated Hermes Inc. now owns 3,080 shares of the industrial products company’s stock worth $1,194,000 after acquiring an additional 242 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Valmont Industries in the third quarter worth $216,000. EFG Asset Management North America Corp. increased its holdings in shares of Valmont Industries by 103.4% during the third quarter. EFG Asset Management North America Corp. now owns 12,106 shares of the industrial products company’s stock valued at $4,697,000 after acquiring an additional 6,154 shares in the last quarter. Finally, Riverwater Partners LLC purchased a new position in shares of Valmont Industries in the 3rd quarter worth about $482,000. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Valmont Industries Stock Down 0.5%

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

Valmont Industries Company Profile

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.