State Treasurer State of Michigan lowered its position in Valmont Industries, Inc. (NYSE:VMI) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,100 shares of the industrial products company’s stock after selling 400 shares during the period. State Treasurer State of Michigan’s holdings in Valmont Industries were worth $1,343,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of Valmont Industries in the fourth quarter worth $215,000. Gofen & Glossberg LLC IL bought a new stake in shares of Valmont Industries in the third quarter worth $209,000. Trexquant Investment LP bought a new stake in shares of Valmont Industries in the third quarter worth $252,000. Balyasny Asset Management LLC bought a new stake in shares of Valmont Industries in the second quarter worth $246,000. Finally, Parametrica Management Ltd bought a new stake in shares of Valmont Industries in the third quarter worth $268,000. 84.99% of the stock is owned by institutional investors.
In other Valmont Industries news, VP Vanessa Kay Brown sold 3,059 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.30% of the company’s stock.
Several analysts recently commented on the company. Zacks Investment Research lowered Valmont Industries from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Seaport Global Securities lowered Valmont Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “hold” rating and issued a $181.00 price objective (up previously from $174.00) on shares of Valmont Industries in a report on Tuesday, January 16th. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Valmont Industries in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $179.00.
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Valmont Industries Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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