Valmont Industries, Inc. (NYSE:VMI) Shares Bought by Norden Group LLC

Norden Group LLC increased its stake in Valmont Industries, Inc. (NYSE:VMI) by 23.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,897 shares of the industrial products company’s stock after purchasing an additional 544 shares during the quarter. Norden Group LLC’s holdings in Valmont Industries were worth $795,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. grew its position in Valmont Industries by 2,060.0% in the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 103 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Valmont Industries in the second quarter valued at $52,000. Principal Securities Inc. acquired a new stake in Valmont Industries during the 4th quarter valued at $57,000. Meeder Asset Management Inc. purchased a new stake in Valmont Industries during the 1st quarter worth $66,000. Finally, First Horizon Advisors Inc. lifted its holdings in Valmont Industries by 58.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company’s stock worth $68,000 after buying an additional 91 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Valmont Industries Stock Performance

Shares of Valmont Industries stock opened at $266.27 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. Valmont Industries, Inc. has a 1 year low of $188.63 and a 1 year high of $307.67. The firm’s 50-day simple moving average is $279.99 and its 200-day simple moving average is $251.39. The firm has a market cap of $5.37 billion, a PE ratio of 35.08 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.72. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Equities analysts forecast that Valmont Industries, Inc. will post 16.76 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.90%. Valmont Industries’s payout ratio is 31.62%.

Analyst Ratings Changes

A number of analysts have recently issued reports on VMI shares. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their price objective on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, DA Davidson upped their target price on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Valmont Industries currently has a consensus rating of “Buy” and a consensus target price of $332.50.

Valmont Industries 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.