Huntington National Bank Has $72,000 Position in Valmont Industries, Inc. (NYSE:VMI)

Huntington National Bank grew its position in Valmont Industries, Inc. (NYSE:VMI) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247 shares of the industrial products company’s stock after purchasing an additional 35 shares during the period. Huntington National Bank’s holdings in Valmont Industries were worth $72,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Earnest Partners LLC bought a new stake in shares of Valmont Industries in the 2nd quarter valued at $91,878,000. Sei Investments Co. increased its holdings in shares of Valmont Industries by 794.2% in the second quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock worth $54,373,000 after acquiring an additional 175,961 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Valmont Industries by 39.3% during the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock worth $71,040,000 after purchasing an additional 73,084 shares during the period. Natixis Advisors LLC grew its position in shares of Valmont Industries by 113.5% in the 2nd quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company’s stock valued at $19,656,000 after purchasing an additional 38,080 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Valmont Industries by 14.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock valued at $50,740,000 after purchasing an additional 23,275 shares during the period. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VMI shares. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson upped their target price 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 lifted their price target on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

Insider Activity at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of the business’s 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 transaction, the vice president now directly owns 9,408 shares in the company, valued at approximately $2,963,520. The trade was a 29.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the sale, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Valmont Industries Price Performance

Shares of VMI opened at $340.25 on Tuesday. 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 twelve month low of $202.01 and a twelve month high of $352.57. The stock has a market capitalization of $6.82 billion, a P/E ratio of 23.11 and a beta of 1.02. The company has a 50 day moving average of $304.97 and a 200-day moving average of $283.07.

Valmont Industries (NYSE:VMI) last released 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 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 last year, the firm earned $4.12 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal 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. The ex-dividend date is Friday, December 27th. This represents a $2.40 annualized dividend and a yield of 0.71%. Valmont Industries’s payout ratio is presently 16.30%.

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.