Valmont Industries, Inc. (NYSE:VMI) Director Mogens C. Bay Sells 20,000 Shares of Stock

Valmont Industries, Inc. (NYSE:VMI) Director Mogens C. Bay sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Valmont Industries Trading Down 0.6 %

NYSE VMI opened at $347.08 on Wednesday. The firm has a 50 day simple moving average of $318.83 and a 200-day simple moving average of $289.52. 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. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 23.58 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $4.12 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 0.69%. The ex-dividend date is Friday, December 27th. Valmont Industries’s payout ratio is 16.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VMI. Tidal Investments LLC lifted its stake in Valmont Industries by 8.6% in the first quarter. Tidal Investments LLC now owns 3,186 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 253 shares during the last quarter. Comerica Bank lifted its stake in Valmont Industries by 81.9% in the first quarter. Comerica Bank now owns 19,397 shares of the industrial products company’s stock worth $4,428,000 after acquiring an additional 8,731 shares during the last quarter. Cetera Investment Advisers purchased a new position in Valmont Industries in the first quarter worth approximately $1,796,000. Mather Group LLC. lifted its stake 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 acquiring an additional 103 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Valmont Industries by 292.4% in the second quarter. Harbor Capital Advisors Inc. now owns 3,386 shares of the industrial products company’s stock worth $929,000 after acquiring an additional 2,523 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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 report on Thursday, October 24th. DA Davidson increased their target price 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. Finally, StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th.

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.