Victory Capital Management Inc. Increases Position in Valmont Industries, Inc. (NYSE:VMI)

Victory Capital Management Inc. raised its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,884 shares of the industrial products company’s stock after buying an additional 139 shares during the period. Victory Capital Management Inc.’s holdings in Valmont Industries were worth $1,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. WealthPlan Investment Management LLC boosted its holdings in Valmont Industries by 1.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 24,392 shares of the industrial products company’s stock valued at $7,072,000 after acquiring an additional 266 shares during the period. Entropy Technologies LP purchased a new position in shares of Valmont Industries in the third quarter valued at approximately $238,000. Crossmark Global Holdings Inc. grew its holdings in shares of Valmont Industries by 33.4% in the third quarter. Crossmark Global Holdings Inc. now owns 1,578 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 395 shares in the last quarter. Colonial River Investments LLC purchased a new stake in Valmont Industries during the 3rd quarter worth approximately $393,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Valmont Industries during the 3rd quarter worth approximately $392,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VMI shares. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their target price on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, DA Davidson increased their price target on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

Insider Buying and Selling

In related news, Director Daas Kaj Den sold 1,000 shares of Valmont Industries stock in a transaction on Monday, November 18th. The shares were sold at an average price of $338.78, for a total transaction of $338,780.00. Following the sale, the director now directly owns 8,644 shares in the company, valued at $2,928,414.32. This trade represents a 10.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction on 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 21,977 shares of company stock worth $6,971,695 over the last 90 days. 1.90% of the stock is owned by insiders.

Valmont Industries Trading Up 2.4 %

Shares of NYSE:VMI opened at $350.39 on Tuesday. Valmont Industries, Inc. has a 52 week low of $202.01 and a 52 week high of $352.88. The company’s 50 day moving average is $311.99 and its two-hundred day moving average is $286.33. The company has a market cap of $7.02 billion, a PE ratio of 23.80 and a beta of 1.02. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI) last posted its 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. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. Valmont Industries’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.12 earnings per share. Equities analysts predict that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) 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.