Valmont Industries, Inc. (NYSE:VMI) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Valmont Industries, Inc. (NYSE:VMI) by 3.8% during the third quarter, HoldingsChannel reports. The fund owned 2,342 shares of the industrial products company’s stock after buying an additional 85 shares during the period. State of Alaska Department of Revenue’s holdings in Valmont Industries were worth $679,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. Mather Group LLC. grew its stake in shares of Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 103 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Valmont Industries during the third quarter worth $39,000. Quarry LP boosted its stake in Valmont Industries by 268.0% in the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 134 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new position in Valmont Industries in the second quarter valued at $52,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VMI. DA Davidson increased their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a 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, Stifel Nicolaus raised their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

Insider Activity at Valmont Industries

In other news, Director Mogens C. Bay sold 17,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 154,730 shares of the company’s stock, valued at $48,968,950.40. 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 the SEC website. In related news, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the completion of the sale, the director now owns 154,730 shares of the company’s stock, valued at $48,968,950.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP R Andrew Massey sold 3,977 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the sale, the vice president now directly owns 9,408 shares of the company’s stock, valued at $2,963,520. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Valmont Industries Trading Up 7.0 %

NYSE VMI opened at $349.20 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. The company has a 50-day simple moving average of $292.95 and a 200-day simple moving average of $274.90. The firm has a market capitalization of $7.00 billion, a PE ratio of 23.72 and a beta of 1.02. Valmont Industries, Inc. has a one year low of $192.94 and a one year high of $352.57.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping the consensus estimate of $4.00 by $0.11. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.12 EPS. On average, equities analysts forecast that Valmont Industries, Inc. will post 16.84 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio is currently 16.30%.

Valmont Industries 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.