State Street Corp Buys 6,913 Shares of Valmont Industries, Inc. (NYSE:VMI)

State Street Corp lifted its position in Valmont Industries, Inc. (NYSE:VMI) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 640,876 shares of the industrial products company’s stock after acquiring an additional 6,913 shares during the period. State Street Corp owned 3.20% of Valmont Industries worth $186,204,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VMI. Stifel Financial Corp lifted its holdings in shares of Valmont Industries by 6.9% during the third quarter. Stifel Financial Corp now owns 12,581 shares of the industrial products company’s stock valued at $3,648,000 after purchasing an additional 808 shares during the last quarter. Quantinno Capital Management LP lifted its position in Valmont Industries by 30.3% during the third quarter. Quantinno Capital Management LP now owns 10,773 shares of the industrial products company’s stock valued at $3,124,000 after purchasing an additional 2,503 shares during the period. Petrus Trust Company LTA purchased a new position in shares of Valmont Industries in the 3rd quarter worth $842,000. Point72 DIFC Ltd purchased a new position in Valmont Industries in the third quarter worth about $787,000. Finally, Point72 Asset Management L.P. bought a new stake in Valmont Industries during the third quarter valued at approximately $58,000. Institutional investors own 87.84% of the company’s stock.

Insider Activity

In other Valmont Industries news, 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 transaction of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares in the company, valued at $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daas Kaj Den sold 1,000 shares of Valmont Industries stock in a transaction dated 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 transaction, the director now owns 8,644 shares in the company, valued at $2,928,414.32. This trade represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,977 shares of company stock valued at $13,950,095. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VMI. Stifel Nicolaus boosted their price target on Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson boosted 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 Trading Down 0.3 %

Shares of NYSE VMI opened at $329.73 on Friday. The stock has a market capitalization of $6.61 billion, a P/E ratio of 22.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. The business’s 50 day moving average is $326.98 and its two-hundred day moving average is $293.62. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $354.13.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $4.12 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Valmont Industries, Inc. will post 16.86 EPS for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, December 27th. Valmont Industries’s dividend payout ratio is presently 16.30%.

Valmont Industries Company 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.