Franklin Resources Inc. Buys 148,811 Shares of Valmont Industries, Inc. (NYSE:VMI)

Franklin Resources Inc. increased its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 57.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,308 shares of the industrial products company's stock after purchasing an additional 148,811 shares during the quarter. Franklin Resources Inc. owned approximately 2.03% of Valmont Industries worth $123,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Valmont Industries by 117.4% in the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 54 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Valmont Industries during the third quarter worth $35,000. Exchange Traded Concepts LLC bought a new stake in shares of Valmont Industries in the 3rd quarter valued at $39,000. Quarry LP raised its stake in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company's stock worth $50,000 after buying an additional 134 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Valmont Industries during the third quarter worth about $58,000. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Performance

NYSE:VMI traded up $3.65 on Monday, hitting $331.47. The company's stock had a trading volume of 121,494 shares, compared to its average volume of 151,689. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $354.13. The firm has a market capitalization of $6.64 billion, a P/E ratio of 22.52 and a beta of 1.03. The stock has a fifty day moving average of $328.46 and a two-hundred day moving average of $295.31. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating 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 the consensus estimate of $1.02 billion. During the same period in the previous year, the company earned $4.12 earnings per share. The company's quarterly revenue was down 2.9% on a year-over-year basis. Research analysts predict that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

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. This represents a $2.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries's dividend payout ratio (DPR) is presently 16.30%.

Insider Buying and Selling

In other 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 value of $338,780.00. Following the completion of the transaction, the director now directly owns 8,644 shares in the company, valued at approximately $2,928,414.32. This represents a 10.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 20,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the sale, the director now directly owns 131,730 shares in the company, valued at approximately $45,963,231.60. This trade represents a 13.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,977 shares of company stock valued at $13,950,095 over the last quarter. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VMI shares. DA Davidson raised their price target on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on Valmont Industries from $360.00 to $382.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th.

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.