First Horizon Advisors Inc. Increases Stake in Valmont Industries, Inc. (NYSE:VMI)

First Horizon Advisors Inc. increased its holdings in Valmont Industries, Inc. (NYSE:VMI) by 12.5% in the third quarter, Holdings Channel reports. The fund owned 279 shares of the industrial products company’s stock after purchasing an additional 31 shares during the quarter. First Horizon Advisors Inc.’s holdings in Valmont Industries were worth $81,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Valmont Industries by 117.4% in the 3rd 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 period. Mather Group LLC. raised its holdings in Valmont Industries by 2,060.0% in 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 purchased a new stake in shares of Valmont Industries during the third quarter valued at about $39,000. Quarry LP boosted its holdings in shares of Valmont Industries by 268.0% in the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after buying an additional 134 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of Valmont Industries in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $2,963,520. This trade represents a 29.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daas Kaj Den sold 1,000 shares of Valmont Industries stock in a transaction 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 in the company, valued at $2,928,414.32. This represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,977 shares of company stock valued at $6,971,695. Company insiders own 2.00% of the company’s stock.

Valmont Industries Stock Up 1.0 %

VMI stock opened at $342.09 on Monday. 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 52 week low of $202.01 and a 52 week high of $352.57. The stock has a market capitalization of $6.85 billion, a PE ratio of 23.24 and a beta of 1.02. The firm has a 50 day moving average of $310.53 and a 200 day moving average of $285.66.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share 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 analyst estimates of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 earnings per share. Sell-side analysts forecast that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.70%. Valmont Industries’s dividend payout ratio is currently 16.30%.

Analysts Set New Price Targets

A number of research firms recently commented on VMI. Stifel Nicolaus increased their target price on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th.

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.