Valmont Industries, Inc. (NYSE:VMI) Position Raised by Algert Global LLC

Algert Global LLC raised its stake in Valmont Industries, Inc. (NYSE:VMI) by 96.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,626 shares of the industrial products company’s stock after buying an additional 11,130 shares during the quarter. Algert Global LLC owned approximately 0.11% of Valmont Industries worth $6,560,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of Valmont Industries by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 14,190 shares of the industrial products company’s stock valued at $3,240,000 after purchasing an additional 67 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Valmont Industries during the first quarter valued at about $122,000. Tidal Investments LLC raised its stake in shares of Valmont Industries by 8.6% during the first quarter. Tidal Investments LLC now owns 3,186 shares of the industrial products company’s stock valued at $727,000 after purchasing an additional 253 shares in the last quarter. Comerica Bank raised its stake in shares of Valmont Industries by 81.9% during the first quarter. Comerica Bank now owns 19,397 shares of the industrial products company’s stock valued at $4,428,000 after purchasing an additional 8,731 shares in the last quarter. Finally, WealthPlan Investment Management LLC raised its stake in shares of Valmont Industries by 0.3% during the first quarter. WealthPlan Investment Management LLC now owns 24,091 shares of the industrial products company’s stock valued at $5,500,000 after purchasing an additional 63 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP R Andrew Massey sold 3,977 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the transaction, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daas Kaj Den sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $338.78, for a total value of $338,780.00. Following the sale, the director now owns 8,644 shares of the company’s stock, valued at $2,928,414.32. The trade was a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,977 shares of company stock valued at $6,971,695. 2.00% of the stock is owned by corporate insiders.

Valmont Industries Price Performance

Shares of Valmont Industries stock opened at $342.09 on Friday. 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 company’s 50-day moving average price is $310.53 and its two-hundred day moving average price is $285.43. Valmont Industries, Inc. has a 52 week low of $202.01 and a 52 week high of $352.57. The stock has a market cap of $6.85 billion, a PE ratio of 23.24 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $4.12 earnings per share. Valmont Industries’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal 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 paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. Valmont Industries’s dividend payout ratio is currently 16.30%.

Wall Street Analysts Forecast Growth

VMI has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson lifted their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price target on shares of 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.