Horizon Kinetics Asset Management LLC Increases Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Horizon Kinetics Asset Management LLC raised its stake in Valmont Industries, Inc. (NYSE:VMI) by 53.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,575 shares of the industrial products company’s stock after acquiring an additional 900 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Valmont Industries were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in shares of Valmont Industries by 12.5% in the third quarter. First Horizon Advisors Inc. now owns 279 shares of the industrial products company’s stock valued at $81,000 after buying an additional 31 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Valmont Industries by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 35 shares during the last quarter. Huntington National Bank raised its holdings in shares of Valmont Industries by 16.5% in the third quarter. Huntington National Bank now owns 247 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 35 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Valmont Industries by 3.1% in the third quarter. UMB Bank n.a. now owns 1,303 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 39 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Valmont Industries by 2.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company’s stock worth $470,000 after acquiring an additional 42 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Trading Up 2.4 %

NYSE:VMI opened at $350.39 on Tuesday. The business’s 50-day simple moving average is $311.99 and its 200 day simple moving average is $286.33. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $352.88. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 23.80 and a beta of 1.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (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 analysts’ expectations 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 firm posted $4.12 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Insider Buying and Selling at Valmont Industries

In related news, Director Daas Kaj Den sold 1,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $338.78, for a total transaction of $338,780.00. Following the completion of the sale, the director now directly owns 8,644 shares in the company, valued at approximately $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mogens C. Bay sold 17,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the sale, the director now owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. This represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,977 shares of company stock valued at $6,971,695. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VMI has been the subject of a number of recent analyst reports. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson upped their target price on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus upped their target price on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

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.