Barclays PLC Grows Stock Position in Valmont Industries, Inc. (NYSE:VMI)

Barclays PLC lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 91.6% during the third quarter, Holdings Channel.com reports. The fund owned 14,488 shares of the industrial products company’s stock after acquiring an additional 6,927 shares during the period. Barclays PLC’s holdings in Valmont Industries were worth $4,200,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Earnest Partners LLC purchased a new stake in Valmont Industries during the 2nd quarter worth approximately $91,878,000. Sei Investments Co. grew its holdings in shares of Valmont Industries by 794.2% during the second quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after buying an additional 175,961 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Valmont Industries by 39.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after acquiring an additional 73,084 shares during the period. Natixis Advisors LLC raised its stake in Valmont Industries by 113.5% in the 2nd quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company’s stock worth $19,656,000 after acquiring an additional 38,080 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock worth $71,825,000 after acquiring an additional 34,772 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. This represents a 13.18 % decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 41,977 shares of company stock valued at $13,950,095. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

VMI has been the subject of several research analyst reports. DA Davidson raised their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of Valmont Industries from $360.00 to $382.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Valmont Industries Price Performance

NYSE:VMI opened at $308.21 on Friday. The firm’s fifty day moving average is $329.95 and its two-hundred day moving average is $296.43. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 20.94 and a beta of 1.03. 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 one year low of $202.01 and a one year high of $354.13.

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

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, December 27th. 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.