Zacks Investment Management Reduces Stake in Valmont Industries, Inc. (NYSE:VMI)

Zacks Investment Management cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 62.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,959 shares of the industrial products company’s stock after selling 28,419 shares during the period. Zacks Investment Management owned 0.08% of Valmont Industries worth $4,917,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 54 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Valmont Industries by 2,060.0% during the 2nd 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 period. Exchange Traded Concepts LLC bought a new position in shares of Valmont Industries in the 3rd quarter worth approximately $39,000. Quarry LP raised its position 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 worth $50,000 after acquiring an additional 134 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Valmont Industries in the 3rd quarter valued at approximately $58,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Stock Down 2.0 %

VMI stock opened at $338.45 on Monday. The business has a 50 day moving average of $323.45 and a 200 day moving average of $291.96. The firm has a market cap of $6.78 billion, a PE ratio of 22.99 and a beta of 1.03. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $354.13. 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 (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.11. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $4.12 earnings per share. On average, research analysts forecast that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, December 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.71%. Valmont Industries’s dividend payout ratio is presently 16.30%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VMI. Stifel Nicolaus increased their price objective on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. DA Davidson upped their target price on shares of 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 shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th.

Insider Activity

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the stock in a transaction on 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 in the company, valued at approximately $2,963,520. This trade represents a 29.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 41,977 shares of company stock worth $13,950,095 over the last 90 days. 1.90% of the stock is currently owned by insiders.

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.