Valmont Industries (NYSE:VMI) Hits New 1-Year High on Strong Earnings

Valmont Industries, Inc. (NYSE:VMI)’s stock price reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $356.97 and last traded at $356.71, with a volume of 48596 shares changing hands. The stock had previously closed at $320.79.

The industrial products company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. During the same period last year, the firm posted $3.18 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DA Davidson raised their target price on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $382.00 to $387.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

Insider Buying and Selling at Valmont Industries

In other news, Director Mogens C. Bay sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the transaction, the director now owns 131,730 shares of the company’s stock, valued at $45,963,231.60. This represents a 13.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Valmont Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Castleark Management LLC increased its holdings in Valmont Industries by 3.9% in the 4th quarter. Castleark Management LLC now owns 21,710 shares of the industrial products company’s stock valued at $6,658,000 after purchasing an additional 820 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Valmont Industries by 15.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,872 shares of the industrial products company’s stock worth $21,428,000 after purchasing an additional 9,516 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Valmont Industries in the 4th quarter valued at approximately $255,000. Squarepoint Ops LLC raised its holdings in shares of Valmont Industries by 141.2% during the fourth quarter. Squarepoint Ops LLC now owns 41,555 shares of the industrial products company’s stock worth $12,744,000 after purchasing an additional 24,323 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in Valmont Industries during the fourth quarter worth about $634,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Price Performance

The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 25.68 and a beta of 1.05. The business has a 50-day moving average price of $322.28 and a two-hundred day moving average price of $310.97.

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.