Van ECK Associates Corp Raises Stock Position in Valmont Industries, Inc. (NYSE:VMI)

Van ECK Associates Corp increased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 34.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,436 shares of the industrial products company’s stock after purchasing an additional 3,943 shares during the period. Van ECK Associates Corp owned approximately 0.08% of Valmont Industries worth $4,734,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VMI. Franklin Resources Inc. boosted its stake in shares of Valmont Industries by 57.6% during the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after purchasing an additional 148,811 shares during the period. Wellington Management Group LLP boosted its stake in shares of Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock worth $71,825,000 after purchasing an additional 34,772 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Valmont Industries during the 4th quarter worth about $8,275,000. Segall Bryant & Hamill LLC boosted its stake in shares of Valmont Industries by 9.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company’s stock worth $83,689,000 after purchasing an additional 25,237 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Valmont Industries by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock worth $84,927,000 after purchasing an additional 24,224 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Valmont Industries

In other news, Director Mogens C. Bay sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. This represents a 13.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. DA Davidson lifted 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. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $382.00 to $387.00 and gave the company a “buy” rating in a research report on Friday, January 24th.

Valmont Industries Price Performance

Valmont Industries stock opened at $378.00 on Wednesday. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 25.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $379.22. The firm has a 50-day moving average of $322.28 and a two-hundred day moving average of $310.97.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.21. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. During the same period in the previous year, the business posted $3.18 earnings per share. On average, research analysts forecast that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries 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.