Axxcess Wealth Management LLC Acquires New Stake in Valmont Industries, Inc. (NYSE:VMI)

Axxcess Wealth Management LLC acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,351 shares of the industrial products company’s stock, valued at approximately $392,000.

Several other institutional investors have also recently made changes to their positions in the stock. Portside Wealth Group LLC bought a new position in shares of Valmont Industries in the third quarter worth $219,000. Hanseatic Management Services Inc. bought a new position in Valmont Industries in the third quarter valued at $66,000. Leeward Investments LLC MA increased its stake in Valmont Industries by 13.2% in the third quarter. Leeward Investments LLC MA now owns 61,274 shares of the industrial products company’s stock valued at $17,766,000 after acquiring an additional 7,154 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in Valmont Industries by 3.5% in the third quarter. Moloney Securities Asset Management LLC now owns 3,746 shares of the industrial products company’s stock valued at $1,086,000 after acquiring an additional 128 shares during the last quarter. Finally, BSW Wealth Partners bought a new position in Valmont Industries in the third quarter valued at $217,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VMI. Stifel Nicolaus raised 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. DA Davidson lifted their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th.

Insider Transactions at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the transaction, the vice president now directly owns 9,408 shares in the company, valued at approximately $2,963,520. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction on Friday, October 25th. The shares were sold at an average price of $316.48, for a total value of $5,380,160.00. Following the completion of the transaction, the director now owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction on Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the transaction, the vice president now directly owns 9,408 shares of the company’s stock, valued at $2,963,520. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Valmont Industries Stock Down 1.0 %

VMI opened at $341.72 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $352.57. The firm’s fifty day moving average is $300.58 and its 200 day moving average is $280.04. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 23.21 and a beta of 1.02.

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 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is currently 16.30%.

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.