Valmont Industries (NYSE:VMI) Price Target Raised to $387.00 at Stifel Nicolaus

Valmont Industries (NYSE:VMI) had its price target upped by equities researchers at Stifel Nicolaus from $382.00 to $387.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 14.24% from the stock’s current price.

Separately, DA Davidson boosted their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

Valmont Industries Trading Down 1.0 %

VMI traded down $3.42 during trading on Friday, hitting $338.78. The company’s stock had a trading volume of 11,225 shares, compared to its average volume of 125,632. Valmont Industries has a twelve month low of $202.01 and a twelve month high of $354.13. The firm’s 50 day moving average price is $327.12 and its 200-day moving average price is $304.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. The stock has a market cap of $6.79 billion, a PE ratio of 23.04 and a beta of 1.05.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company earned $4.12 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts expect that Valmont Industries will post 16.85 earnings per share for the current year.

Insider Activity

In other Valmont Industries news, Director Daas Kaj Den sold 1,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $338.78, for a total transaction of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares in the company, valued at $2,928,414.32. The trade was a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the sale, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. This represents a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of Valmont Industries

A number of institutional investors have recently bought and sold shares of VMI. Foundry Partners LLC acquired a new stake in shares of Valmont Industries in the third quarter valued at approximately $4,158,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Valmont Industries during the third quarter worth $466,000. Covea Finance increased its position in shares of Valmont Industries by 29.9% during the 4th quarter. Covea Finance now owns 15,200 shares of the industrial products company’s stock worth $4,661,000 after purchasing an additional 3,500 shares during the last quarter. De Lisle Partners LLP lifted its stake in Valmont Industries by 44.6% in the 3rd quarter. De Lisle Partners LLP now owns 18,800 shares of the industrial products company’s stock valued at $5,454,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Valmont Industries by 12.9% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 208,645 shares of the industrial products company’s stock worth $60,497,000 after purchasing an additional 23,765 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.