Raymond James & Associates Buys 407 Shares of Valmont Industries, Inc. (NYSE:VMI)

Raymond James & Associates increased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 3.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,934 shares of the industrial products company’s stock after acquiring an additional 407 shares during the quarter. Raymond James & Associates’ holdings in Valmont Industries were worth $4,040,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of VMI. State of Michigan Retirement System grew its holdings in Valmont Industries by 2.0% during the first quarter. State of Michigan Retirement System now owns 5,088 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 100 shares in the last quarter. Van ECK Associates Corp boosted its position in Valmont Industries by 34.0% in the first quarter. Van ECK Associates Corp now owns 7,961 shares of the industrial products company’s stock worth $1,817,000 after purchasing an additional 2,020 shares during the last quarter. Norden Group LLC boosted its position in Valmont Industries by 44.8% in the first quarter. Norden Group LLC now owns 2,353 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 728 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Valmont Industries in the first quarter worth $316,000. Finally, Nordea Investment Management AB boosted its position in Valmont Industries by 14.3% in the first quarter. Nordea Investment Management AB now owns 13,928 shares of the industrial products company’s stock worth $3,205,000 after purchasing an additional 1,739 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

NYSE:VMI opened at $316.13 on Friday. The stock has a market cap of $6.33 billion, a P/E ratio of 21.48 and a beta of 1.01. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. Valmont Industries, Inc. has a twelve month low of $192.94 and a twelve month high of $330.97. The business’s 50-day moving average price is $291.50 and its two-hundred day moving average price is $272.49.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. The company 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 period last year, the firm posted $4.12 EPS. As a group, equities analysts predict that Valmont Industries, Inc. will post 16.84 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The company 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 dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.76%. Valmont Industries’s dividend payout ratio is 16.30%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VMI shares. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their price objective on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, DA Davidson boosted 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.

Insider Activity at Valmont Industries

In related news, Director Mogens C. Bay sold 17,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the transaction, the director now directly owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction that occurred 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 transaction, the director now directly owns 154,730 shares of the company’s stock, valued at $48,968,950.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the transaction, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.