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Earnings Wrap: Mellanox, Valmont Among 5 Companies Reporting Quarterly Results

It’s the middle of earnings season, and not surprisingly, traders are buzzing about many of the companies that just reported earnings. In this article we’ll take a look at some of those companies that recently released their latest quarterly results, which are FNF Group of Fidelity National Financial, Inc. (NYSE:FNF), Valmont Industries, Inc. (NYSE:VMI), Mellanox Technologies, Ltd. (NASDAQ:MLNX), FMC Technologies, Inc. (NYSE:FTI), and Hexcel Corporation (NYSE:HXL). We’ll also see what elite funds think of each company.

At Insider Monkey, we track around 765 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).

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Fidelity National Financial Beats Expectations

FNF Group of Fidelity National Financial, Inc. (NYSE:FNF) earned $0.74 per share on revenue of $2.1 billion for the second quarter, beating the consensus estimates by $0.08 per share and $20 million, respectively. Open orders per day rose to 9,016 from 8,750 in the year-ago comparable period, while the average fee per file inched up by 4% year-over-year to $2,116. Second quarter net cash flow from operations was $277 million and free cash flow was $165 million. The company also bought back 2.5 million shares for more than $84 million during the quarter. Of the 766 active funds that we track, 44 owned $1.6 billion in shares of FNF Group of Fidelity National Financial, Inc. (NYSE:FNF) at the end of March, which accounted for 13.60% of the float.

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Valmont Reports Mixed Results

Valmont Industries, Inc. (NYSE:VMI) turned in mixed second quarter results of $1.85 in EPS on sales of $640.25 million. While earnings were ahead of expectations by $0.12 per share, sales missed by $8.29 million. Revenue fell by 6% year-over-year, largely due to lower irrigation and international utility demand and the strong dollar. In terms of guidance, the company reaffirmed its 2016 forecast of diluted EPS of between $6.31 and $6.49. Management is committed to cutting costs and improving efficiency. Cliff Asness‘ AQR Capital Management raised its stake by 11% to 158,297 shares of Valmont Industries, Inc. (NYSE:VMI) as of the end of March.

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On the next page we’ll see how Mellanox Technologies, FMC Technologies, and Hexcel Corporation performed in their latest quarters.

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