Bank of Montreal Can Increases Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Bank of Montreal Can boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 371.6% in the third quarter, HoldingsChannel.com reports. The fund owned 21,927 shares of the industrial products company’s stock after buying an additional 17,278 shares during the quarter. Bank of Montreal Can’s holdings in Valmont Industries were worth $6,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mather Group LLC. raised its stake in Valmont Industries by 2,060.0% in the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 103 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Valmont Industries in the third quarter valued at approximately $4,158,000. Harbor Capital Advisors Inc. lifted its stake in shares of Valmont Industries by 292.4% during the second quarter. Harbor Capital Advisors Inc. now owns 3,386 shares of the industrial products company’s stock valued at $929,000 after buying an additional 2,523 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Valmont Industries by 14.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock worth $50,740,000 after acquiring an additional 23,275 shares during the last quarter. Finally, Ecofi Investissements SA purchased a new stake in Valmont Industries in the 2nd quarter worth approximately $3,238,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Trading Up 0.4 %

VMI opened at $349.38 on Tuesday. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $354.13. The firm has a market capitalization of $7.00 billion, a P/E ratio of 23.63 and a beta of 1.02. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $317.56 and its 200-day moving average is $288.89.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $4.12 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Analysts expect that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, December 27th. Valmont Industries’s payout ratio is 16.30%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VMI shares. Stifel Nicolaus lifted their price objective on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson raised their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Insiders Place Their Bets

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the sale, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daas Kaj Den sold 1,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $338.78, for a total transaction of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares in the company, valued at approximately $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,977 shares of company stock valued at $6,971,695 over the last three months. Company insiders own 2.00% of the company’s stock.

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.