Valmont Industries, Inc. (NYSE:VMI) Director Sells $338,780.00 in Stock

Valmont Industries, Inc. (NYSE:VMI) Director Daas Kaj Den sold 1,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $338.78, for a total value of $338,780.00. Following the transaction, the director now directly owns 8,644 shares in the company, valued at approximately $2,928,414.32. The trade was a 10.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Valmont Industries Stock Up 0.1 %

Shares of Valmont Industries stock opened at $339.97 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $352.57. The company has a market capitalization of $6.81 billion, a P/E ratio of 23.10 and a beta of 1.02. The company has a 50 day moving average of $307.85 and a 200 day moving average of $284.13.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the business posted $4.12 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts forecast that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.71%. Valmont Industries’s dividend payout ratio is presently 16.30%.

Institutional Investors Weigh In On Valmont Industries

A number of institutional investors and hedge funds have recently bought and sold shares of VMI. Earnest Partners LLC acquired a new stake in shares of Valmont Industries during the second quarter worth about $91,878,000. Sei Investments Co. lifted its stake in Valmont Industries by 794.2% in the second quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after buying an additional 175,961 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Valmont Industries by 39.3% in the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after acquiring an additional 73,084 shares during the period. Natixis Advisors LLC grew its position in shares of Valmont Industries by 113.5% during the second quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company’s stock worth $19,656,000 after acquiring an additional 38,080 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Valmont Industries by 16.3% in the third quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock valued at $71,825,000 after buying an additional 34,772 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. DA Davidson boosted their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

About Valmont Industries

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.