Valmont Industries, Inc. $VMI Stock Sold by Ninety One North America Inc.

Ninety One North America Inc. lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,289 shares of the industrial products company’s stock after selling 4,620 shares during the period. Ninety One North America Inc.’s holdings in Valmont Industries were worth $10,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Valmont Industries in the second quarter worth $1,141,369,000. Bank of America Corp DE acquired a new position in shares of Valmont Industries in the 2nd quarter valued at approximately $175,408,000. Vaughan Nelson Investment Management L.P. raised its holdings in Valmont Industries by 3.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock worth $100,933,000 after buying an additional 9,130 shares during the period. Bank of New York Mellon Corp bought a new position in Valmont Industries in the second quarter valued at approximately $83,723,000. Finally, Jupiter Topco LLC bought a new position in Valmont Industries in the second quarter valued at approximately $75,308,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Theodor Freye sold 800 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the sale, the director owned 2,805 shares in the company, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John Schwietz bought 208 shares of Valmont Industries stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average cost of $486.14 per share, with a total value of $101,117.12. Following the acquisition, the chief financial officer directly owned 2,992 shares in the company, valued at $1,454,530.88. This trade represents a 7.47% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.42% of the stock is owned by corporate insiders.

Valmont Industries Stock Down 2.7%

VMI traded down $12.41 during trading on Thursday, reaching $452.92. 93,922 shares of the stock were exchanged, compared to its average volume of 195,237. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. The stock’s 50 day moving average price is $477.75 and its two-hundred day moving average price is $494.34. Valmont Industries, Inc. has a twelve month low of $378.02 and a twelve month high of $585.71. The stock has a market cap of $8.74 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $4.88 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that Valmont Industries, Inc. will post 23.03 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.7%. Valmont Industries’s dividend payout ratio is presently 11.99%.

Wall Street Analysts Forecast Growth

VMI has been the subject of several research analyst reports. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, Stifel Nicolaus upped their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Valmont Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $587.00.

Valmont Industries Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services that support infrastructure, agriculture and industrial applications. Founded in 1946 and headquartered in Omaha, Nebraska, the company serves customers in North America and international markets.

Its infrastructure businesses produce utility poles and structures, towers, steel and aluminum structures, lighting and traffic-support systems, and other products used in electrical transmission and distribution, telecommunications, transportation and commercial development.