Valmont Industries, Inc. (NYSE:VMI) Shares Purchased by Quarry LP

Quarry LP lifted its position in Valmont Industries, Inc. (NYSE:VMI) by 268.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184 shares of the industrial products company’s stock after purchasing an additional 134 shares during the quarter. Quarry LP’s holdings in Valmont Industries were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. grew its stake in shares of 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 buying an additional 103 shares during the period. Versant Capital Management Inc purchased a new position in Valmont Industries in the second quarter worth approximately $52,000. Meeder Asset Management Inc. acquired a new stake in Valmont Industries during the first quarter worth $66,000. First Horizon Advisors Inc. raised its position in Valmont Industries by 58.0% in the second quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 91 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Valmont Industries in the 1st quarter valued at $122,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Valmont Industries Stock Up 1.1 %

Shares of Valmont Industries stock opened at $290.54 on Friday. Valmont Industries, Inc. has a one year low of $188.63 and a one year high of $307.67. The company has a market cap of $5.86 billion, a P/E ratio of 38.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. The firm has a fifty day moving average of $282.67 and a two-hundred day moving average of $259.97.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.72. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, analysts forecast that Valmont Industries, Inc. will post 16.76 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Valmont Industries’s dividend payout ratio is presently 31.62%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VMI. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, DA Davidson increased their price target on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $332.50.

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.