Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 16.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 51,500 shares of the industrial products company’s stock after selling 10,000 shares during the period. Renaissance Technologies LLC’s holdings in Valmont Industries were worth $14,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Valmont Industries during the fourth quarter valued at approximately $49,526,000. Trexquant Investment LP acquired a new position in shares of Valmont Industries in the 4th quarter valued at $393,000. Quest Partners LLC acquired a new position in shares of Valmont Industries in the 4th quarter valued at $105,000. Hsbc Holdings PLC grew its position in Valmont Industries by 11.8% during the fourth quarter. Hsbc Holdings PLC now owns 17,557 shares of the industrial products company’s stock valued at $4,108,000 after buying an additional 1,854 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Valmont Industries in the fourth quarter valued at $234,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Stock Down 0.8 %

VMI opened at $282.08 on Monday. The company has a market cap of $5.70 billion, a PE ratio of 37.16 and a beta of 1.03. Valmont Industries, Inc. has a twelve month low of $188.63 and a twelve month high of $307.67. The company has a 50-day moving average price of $281.62 and a 200 day moving average price of $255.98. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

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

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. Valmont Industries’s payout ratio is currently 31.62%.

Wall Street Analyst Weigh In

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

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares in the company, valued at approximately $1,105,942.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on 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 directly 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. Insiders own 2.00% of the company’s stock.

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.