Quest Partners LLC Lowers Position in Valmont Industries, Inc. (NYSE:VMI)

Quest Partners LLC decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 86.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 664 shares of the industrial products company’s stock after selling 4,257 shares during the period. Quest Partners LLC’s holdings in Valmont Industries were worth $182,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. grew 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 purchasing an additional 103 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Valmont Industries in the 2nd quarter worth about $52,000. Principal Securities Inc. bought a new position in shares of Valmont Industries in the 4th quarter worth about $57,000. First Horizon Advisors Inc. lifted its position in Valmont Industries by 58.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 91 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Valmont Industries during the first quarter worth about $66,000. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $274.49 on Monday. Valmont Industries, Inc. has a twelve month low of $188.63 and a twelve month high of $307.67. The company has a 50 day moving average of $280.34 and a 200 day moving average of $253.48. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5.54 billion, a P/E ratio of 36.16 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, topping the consensus estimate of $4.04 by $0.72. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. As a group, research analysts expect that Valmont Industries, Inc. will post 16.76 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, September 27th. Valmont Industries’s dividend payout ratio is currently 31.62%.

Analyst Ratings Changes

A number of equities analysts have weighed in on VMI shares. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson lifted their price objective on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus increased their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $332.50.

Insiders Place Their Bets

In other news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the transaction, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at approximately $2,826,998.79. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.