Valmont Industries (NYSE:VMI) Price Target Raised to $382.00

Valmont Industries (NYSE:VMI) had its price target boosted by Stifel Nicolaus from $360.00 to $382.00 in a research report released on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Separately, DA Davidson boosted their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Stock Down 0.6 %

VMI stock opened at $327.29 on Wednesday. The firm has a market cap of $6.56 billion, a PE ratio of 22.23 and a beta of 1.03. Valmont Industries has a 12 month low of $202.01 and a 12 month high of $354.13. 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 firm has a 50 day simple moving average of $327.72 and a 200 day simple moving average of $294.14.

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, beating analysts’ consensus estimates of $4.00 by $0.11. The company 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.12 EPS. Equities research analysts forecast that Valmont Industries will post 16.85 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.60 per share. 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 (DPR) is currently 16.30%.

Insider Activity

In other 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 value of $1,252,755.00. Following the transaction, the vice president now directly owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following 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 sold 41,977 shares of company stock worth $13,950,095 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Valmont Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in VMI. Cetera Investment Advisers acquired a new stake in Valmont Industries in the 1st quarter worth approximately $1,796,000. Welch Group LLC acquired a new position in shares of Valmont Industries during the 2nd quarter worth about $302,000. Raymond James & Associates grew its stake in shares of Valmont Industries by 4.5% in the second quarter. Raymond James & Associates now owns 13,527 shares of the industrial products company’s stock worth $3,712,000 after acquiring an additional 586 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Valmont Industries by 14.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock valued at $50,740,000 after buying an additional 23,275 shares during the period. Finally, Leeward Investments LLC MA lifted its position in shares of Valmont Industries by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 54,120 shares of the industrial products company’s stock worth $14,853,000 after acquiring an additional 2,880 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.