Royce Associates Lp Lowers stake in Valmont Industries (VMI)

Valmont Industries (VMI) : Royce Associates Lp reduced its stake in Valmont Industries by 14.68% during the most recent quarter end. The investment management company now holds a total of 907,485 shares of Valmont Industries which is valued at $119.7 Million after selling 156,155 shares in Valmont Industries , the firm said in a disclosure report filed with the SEC on May 11, 2016.Valmont Industries makes up approximately 0.77% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , Ridgeworth Capital Management sold out all of its stake in VMI during the most recent quarter. The investment firm sold 94 shares of VMI which is valued $12,396.Nationwide Fund Advisors boosted its stake in VMI in the latest quarter, The investment management firm added 502 additional shares and now holds a total of 40,119 shares of Valmont Industries which is valued at $5.3 Million. Valmont Industries makes up approx 0.02% of Nationwide Fund Advisors’s portfolio. Intersect Capital added VMI to its portfolio by purchasing 2,097 company shares during the most recent quarter which is valued at $278,880. Valmont Industries makes up approx 0.18% of Intersect Capital’s portfolio.State Of Wisconsin Investment Board reduced its stake in VMI by selling 690 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 105,615 shares of VMI which is valued at $14 Million. Valmont Industries makes up approx 0.06% of State Of Wisconsin Investment Board’s portfolio.

Valmont Industries opened for trading at $132.09 and hit $134.73 on the upside on Monday, eventually ending the session at $133.66, with a gain of 1.36% or 1.79 points. The heightened volatility saw the trading volume jump to 1,00,449 shares. Company has a market cap of $3,032 M.

On the company’s financial health, Valmont Industries reported $1.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.25. The company had revenue of $596.60 million for the quarter, compared to analysts expectations of $618.56 million. The company’s revenue was down -11.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Valmont Industries. Shares were Reiterated by Wedbush on Feb 19, 2016 to “Neutral” and Lowered the Price Target to $ 118 from a previous price target of $121 .

Valmont Industries Inc. is a diversified producer of fabricated metal products. The Company is also a producer of steel aluminum and composite pole tower and other structures. It operates in four segments: Engineered Infrastructure Products which consists of the manufacture and distribution of engineered metal and composite structures and components for lighting and traffic Wireless communication offshore structures roadway and access systems applications; Utility Support Structures which consists of the manufacture of steel and concrete structures for the utility industry; Coatings which consists of galvanizing anodizing and coating services and Irrigation which consists of the manufacture of agricultural irrigation equipment and related parts and services for the agricultural industry. Its other activities include the manufacture of steel grinding media for the mining industry tubular products for industrial customers and the distribution of industrial fasteners.

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