Royce & Associates LP Grows Position in Valmont Industries, Inc. (NYSE:VMI)

Royce & Associates LP boosted its stake in Valmont Industries, Inc. (NYSE:VMI) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,388 shares of the industrial products company’s stock after purchasing an additional 910 shares during the quarter. Royce & Associates LP’s holdings in Valmont Industries were worth $58,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of Valmont Industries by 16.5% during the 3rd quarter. Huntington National Bank now owns 247 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 35 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Valmont Industries by 11.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,916 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 410 shares during the last quarter. MQS Management LLC purchased a new position in shares of Valmont Industries in the 3rd quarter worth approximately $235,000. Victory Capital Management Inc. increased its position in shares of Valmont Industries by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 4,884 shares of the industrial products company’s stock valued at $1,416,000 after purchasing an additional 139 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its holdings in Valmont Industries by 1.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 24,392 shares of the industrial products company’s stock valued at $7,072,000 after buying an additional 266 shares during the period. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Valmont Industries

In related news, Director Mogens C. Bay sold 17,000 shares of the stock in a transaction that occurred on 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 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP R Andrew Massey sold 3,977 shares of the company’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 transaction, the vice president now directly owns 9,408 shares in the company, valued at approximately $2,963,520. The trade was a 29.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

VMI has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target 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. 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, DA Davidson raised their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

Valmont Industries Price Performance

VMI opened at $340.01 on Friday. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 23.10 and a beta of 1.02. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. Valmont Industries, Inc. has a 12-month low of $202.01 and a 12-month high of $352.57. The business’s fifty day simple moving average is $302.08 and its 200-day simple moving average is $280.45.

Valmont Industries (NYSE:VMI) last posted its earnings results 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. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $4.12 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be issued 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 0.71%. 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.