(NYSE:VMI) shares saw heavy trading volume with 232K shares changing hands on Tuesday. Overall, volume was up 95.91% over the stocks normal daily volume.
Investors are a little more bearish on the company recently if you take into consideration the rise in short interest. The stock had a rise in short interest from September 29, 2017 to October 13, 2017 of 5.80%. Short shares increased 25,539 over that period. The days to cover increased to 6.0 and the percentage of shorted shares is 0.02% as of October 13.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Ubs Asset Management Americas Inc had acquired 335 shares growing its position 3,045.5%. The value in dollars went from $1,646,000 to $54,703,000 a change of $53,057,000 for the reporting period. As of quarter end Dimensional Fund Advisors Lp had bought a total of 6,112 shares growing its stake by 1.2%. The value of the total investment in Valmont Industries increased from $79,496,000 to $84,981,000 increasing 6.9% quarter over quarter.
Raymond James & Associates cut its holdings by selling 100 shares a decrease of 0.8% from 06/30/2017 to 09/30/2017. Raymond James & Associates now holds 13,055 shares with a value of $2,064,000. The total value of its holdings increased 4.9%. As of the end of the quarter Fca Corp /tx had acquired a total of 376 shares growing its holdings by 1.6%. The value of the investment in (VMI) went from $3,532,000 to $3,792,000 a change of 7.4% quarter to quarter.
November 10 investment analysts at Boenning Scattergood maintained a stock rating of “Buy” targeting a price of $185.00. On October 19 Boenning Scattergood kept the company rating at “Buy” with a current price target of $185.00.
On October 17 Stifel Nicolaus held the company rating at “Buy” projecting a price of $183.00. On September 6, 2017 Seaport Global Securities released research on VMI with a rating of “Buy”.
On September 5, 2017 Boenning Scattergood reiterated a “Outperform” rating on the stock.
The company is now up since yesterday’s close of 161.2. Valmont Industries currently has a P/E ratio of 19.29 and market capitalization is 3.65B. As of the latest earnings report the EPS was $8.37 with 22.61M shares now outstanding.
Valmont Industries, Inc., launched on August 2, 1974, is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Business’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other. Within its Energy and Mining segment, the Company manufactures industrial access systems, grinding media used in mining operations, and complex steel structures used in wind energy and utility transmission applications outside the United States. It also provides metal coating services, including galvanizing, painting and anodizing in its Coatings segment. Its products sold through the ESS segment include outdoor lighting, traffic control, and roadway safety structures, wireless communication structures and components. Its pole structures sold through Utility segment support electrical transmission and distribution lines and related power distribution equipment. Its Irrigation segment produces mechanized irrigation equipment that delivers water, chemical fertilizers and pesticides to agricultural crops. Its customers and end users include state and federal governments, contractors, utility and telecommunications companies, manufacturers of commercial lighting fixtures and large farms, as well as the general manufacturing sector..