Mogens C. Bay Sells 17,000 Shares of Valmont Industries, Inc. (NYSE:VMI) Stock

Valmont Industries, Inc. (NYSE:VMI) Director Mogens C. Bay sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the transaction, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Valmont Industries Stock Down 1.3 %

Shares of NYSE:VMI opened at $315.64 on Thursday. The company has a market capitalization of $6.37 billion, a PE ratio of 21.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1 year low of $192.46 and a 1 year high of $330.97. The business has a fifty day moving average price of $290.40 and a two-hundred day moving average price of $271.52.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $4.12 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts forecast that Valmont Industries, Inc. will post 16.84 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio is presently 16.30%.

Wall Street Analyst Weigh In

VMI has been the subject of several analyst reports. DA Davidson lifted their price objective 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. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus increased their target price on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

Institutional Investors Weigh In On Valmont Industries

Large investors have recently made changes to their positions in the business. Congress Wealth Management LLC DE boosted its holdings in Valmont Industries by 11.7% in the first quarter. Congress Wealth Management LLC DE now owns 27,673 shares of the industrial products company’s stock worth $6,317,000 after acquiring an additional 2,909 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Valmont Industries by 69.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 161,605 shares of the industrial products company’s stock worth $36,891,000 after buying an additional 65,970 shares during the period. State of Michigan Retirement System grew its position in shares of Valmont Industries by 2.0% during the first quarter. State of Michigan Retirement System now owns 5,088 shares of the industrial products company’s stock worth $1,161,000 after purchasing an additional 100 shares in the last quarter. Norden Group LLC grew its holdings in Valmont Industries by 1,353.5% during the 1st quarter. Norden Group LLC now owns 23,620 shares of the industrial products company’s stock valued at $5,394,000 after buying an additional 21,995 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Valmont Industries by 34.0% in the 1st quarter. Van ECK Associates Corp now owns 7,961 shares of the industrial products company’s stock valued at $1,817,000 after acquiring an additional 2,020 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

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.