Should You Invest in Valmont Industries (VMI)?
Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTSX returned 1.10%, Advisor Class fund APDSX posted a return of 1.19%, and Institutional Class fund APHSX returned 1.19%, compared to a return of 7.05% for the Russell 2000 Growth Index. Year-to-date, ARTSX, APDSX, and APHSX returned 8.78%, 8.91%, and 8.91%, respectively, compared to a 13.55% return for the benchmark. Despite this year's relative setback, the firm remains bullish on its asset class's long-term prospects. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund highlighted stocks like Valmont Industries, Inc. (NYSE:VMI) in the second quarter 2023 investor letter. Headquartered in Omaha, Nebraska, Valmont Industries, Inc. (NYSE:VMI) manufactures and sells metal products. On August 30, 2023, Valmont Industries, Inc. (NYSE:VMI) stock closed at $254.50 per share. One-month return of Valmont Industries, Inc. (NYSE:VMI) was 0.23%, and its shares lost 7.22% of their value over the last 52 weeks. Valmont Industries, Inc. (NYSE:VMI) has a market capitalization of $5.359 billion.
Artisan Small Cap Fund made the following comment about Valmont Industries, Inc. (NYSE:VMI) in its second quarter 2023 investor letter:
"Our portfolios’ absolute returns this year have supported our view that the growth stock valuation reset in 2022 would pave the way for investors to benefit from secular growth drivers again. Since the launch of ChatGPT in late 2022, generative AI has emerged as the hottest topic in technology. While certain aspects of the discussion may prove overhyped, we think that AI advancements will have significant long-term implications across many different areas of the economy.
Valmont Industries, Inc. (NYSE:VMI) is a leading designer and manufacturer of engineered metal products. Within its agricultural segment, the company has nearly 250,000 center pivots irrigating crops around the world. Its pivots also support cameras, sensors and other smart technology to provide data on everything from plant health to pest activity. By leveraging AI to analyze the information gathered, Valmont can optimize irrigation, detect plant diseases sooner and estimate crop yields."
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Valmont Industries, Inc. (NYSE:VMI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Valmont Industries, Inc. (NYSE:VMI) at the end of second quarter which was 28 in the previous quarter.
We discussed Valmont Industries, Inc. (NYSE:VMI) in another article and shared billionaire Jeff Vinik’s stock picks and 10-year performance. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
