Valmont Industries, Inc. (NYSE:VMI) Director Sells $6,978,400.00 in Stock

Valmont Industries, Inc. (NYSE:VMI) Director Mogens C. Bay sold 20,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now directly owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. This trade represents a 13.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Valmont Industries Price Performance

Shares of VMI stock traded down $2.19 during mid-day trading on Tuesday, hitting $347.08. 117,879 shares of the stock were exchanged, compared to its average volume of 153,089. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $354.13. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.95 billion, a PE ratio of 23.56 and a beta of 1.03. The firm has a fifty day moving average of $318.83 and a 200 day moving average of $289.52.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. The company had revenue of $1.02 billion for 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%. Valmont Industries’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.12 earnings per share. Research analysts anticipate that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s payout ratio is presently 16.30%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VMI. Stifel Nicolaus lifted their price objective on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, DA Davidson upped their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Hedge Funds Weigh In On Valmont Industries

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 54 shares during the period. Mather Group LLC. boosted its holdings in Valmont Industries by 2,060.0% in the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after buying an additional 103 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Valmont Industries during the 3rd quarter worth approximately $35,000. Exchange Traded Concepts LLC purchased a new stake in Valmont Industries during the 3rd quarter worth approximately $39,000. Finally, Quarry LP raised its holdings in shares of Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 134 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.