Yacktman Asset Management Lp Lowers stake in Valmont Industries (VMI)

Valmont Industries (VMI) : Yacktman Asset Management Lp reduced its stake in Valmont Industries by 55.0% during the most recent quarter end. The investment management company now holds a total of 1,800 shares of Valmont Industries which is valued at $234,648 after selling 2,200 shares in Valmont Industries , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in VMI by selling 4,088 shares or 7.96% in the most recent quarter. The Hedge Fund company now holds 47,264 shares of VMI which is valued at $6,161,335. Valmont Industries makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Hedeker Wealth reduced its stake in VMI by selling 14,548 shares or 85.69% in the most recent quarter. The Hedge Fund company now holds 2,430 shares of VMI which is valued at $318,209. Valmont Industries makes up approx 0.27% of Hedeker Wealth’s portfolio. Acadian Asset Management added VMI to its portfolio by purchasing 698 company shares during the most recent quarter which is valued at $95,780.

Valmont Industries closed down -0.75 points or -0.58% at $129.61 with 81,601 shares getting traded on Thursday. Post opening the session at $130.2, the shares hit an intraday low of $129.515 and an intraday high of $131.8 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Valmont Industries reported $1.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.73. The company had revenue of $640.25 million for the quarter, compared to analysts expectations of $648.54 million. The company’s revenue was down -6.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.61 EPS.

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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