Principal Financial Group Inc. Sells 20,613 Shares of Valmont Industries, Inc. (NYSE:VMI)

Principal Financial Group Inc. reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 30.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,124 shares of the industrial products company’s stock after selling 20,613 shares during the period. Principal Financial Group Inc. owned about 0.23% of Valmont Industries worth $13,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VMI. Mather Group LLC. increased its holdings 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 valued at $30,000 after purchasing an additional 103 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Valmont Industries by 292.4% during 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. Vaughan Nelson Investment Management L.P. raised its position in shares of Valmont Industries by 14.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock worth $50,740,000 after acquiring an additional 23,275 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Valmont Industries in the first quarter worth approximately $636,000. Finally, Entropy Technologies LP bought a new stake in Valmont Industries in the first quarter valued at approximately $327,000. 87.84% of the stock is currently owned by institutional investors.

Valmont Industries Trading Down 0.6 %

NYSE VMI opened at $338.02 on Friday. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $352.57. 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 has a 50 day simple moving average of $303.51 and a 200 day simple moving average of $281.88. The stock has a market capitalization of $6.77 billion, a P/E ratio of 22.96 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping 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 during 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 quarterly revenue was down 2.9% on a year-over-year basis. Research analysts expect that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 0.71%. Valmont Industries’s dividend payout ratio is currently 16.30%.

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 shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the transaction, the vice president now owns 9,408 shares in the company, valued at approximately $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on VMI shares. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. DA Davidson lifted 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, Stifel Nicolaus upped their price target on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

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.