Sanctuary Advisors LLC Purchases Shares of 2,408 Valmont Industries, Inc. (NYSE:VMI)

Sanctuary Advisors LLC acquired a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,408 shares of the industrial products company’s stock, valued at approximately $698,000.

Several other institutional investors have also modified their holdings of the stock. Earnest Partners LLC purchased a new position in Valmont Industries during the 2nd quarter worth approximately $91,878,000. Sei Investments Co. increased its holdings in shares of Valmont Industries by 794.2% in the 2nd quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after acquiring an additional 175,961 shares during the period. Bank of New York Mellon Corp raised its position in Valmont Industries by 39.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after purchasing an additional 73,084 shares during the last quarter. Natixis Advisors LLC boosted its stake in Valmont Industries by 113.5% during the 2nd quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company’s stock worth $19,656,000 after purchasing an additional 38,080 shares during the period. Finally, Wellington Management Group LLP grew its position in 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 last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

VMI has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson upped their price objective on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

Valmont Industries Stock Up 0.9 %

Shares of NYSE:VMI opened at $311.39 on Wednesday. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 21.15 and a beta of 1.03. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $354.13. The firm’s 50-day simple moving average is $330.20 and its 200-day simple moving average is $297.88. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.12 EPS. As a group, equities research analysts predict that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Insider Activity

In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of the company’s 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 directly owns 154,730 shares in the company, valued at approximately $48,968,950.40. This represents a 9.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction that occurred 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 sale, the vice president now owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. The trade was a 29.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,977 shares of company stock worth $13,950,095 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

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.