Valmont Industries, Inc. (NYSE:VMI) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,080 shares of the industrial products company’s stock after selling 54 shares during the period. M&T Bank Corp’s holdings in Valmont Industries were worth $313,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VMI. Point72 Asia Singapore Pte. Ltd. purchased a new position in Valmont Industries in the third quarter worth $466,000. Foundry Partners LLC acquired a new position in shares of Valmont Industries during the 3rd quarter worth $4,158,000. De Lisle Partners LLP grew its stake in shares of Valmont Industries by 44.6% during the 3rd quarter. De Lisle Partners LLP now owns 18,800 shares of the industrial products company’s stock worth $5,454,000 after purchasing an additional 5,800 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Valmont Industries by 12.9% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 208,645 shares of the industrial products company’s stock valued at $60,497,000 after purchasing an additional 23,765 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its stake in shares of Valmont Industries by 69.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 7,287 shares of the industrial products company’s stock valued at $2,113,000 after purchasing an additional 2,997 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VMI has been the topic of several recent analyst reports. 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 report on Thursday, October 24th. Stifel Nicolaus boosted their price target on Valmont Industries from $360.00 to $382.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Insider Buying and Selling

In related news, Director Mogens C. Bay sold 17,000 shares of the business’s stock in a transaction dated 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 9.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daas Kaj Den sold 1,000 shares of the firm’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 sale, the director now directly owns 8,644 shares in the company, valued at $2,928,414.32. This represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,977 shares of company stock worth $13,950,095 in the last ninety days. Insiders own 1.90% of the company’s stock.

Valmont Industries Trading Down 4.4 %

Shares of VMI stock opened at $311.95 on Thursday. The stock has a market cap of $6.25 billion, a P/E ratio of 21.19 and a beta of 1.03. 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 fifty-two week low of $202.01 and a fifty-two week high of $354.13. The business has a fifty day simple moving average of $329.55 and a 200-day simple moving average of $295.95.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.12 EPS. On average, analysts forecast that Valmont Industries, Inc. will post 16.85 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The business 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 dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.77%. Valmont Industries’s dividend payout ratio 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.