Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 65.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,855 shares of the industrial products company's stock after selling 99,525 shares during the quarter. Millennium Management LLC owned approximately 0.26% of Valmont Industries worth $14,232,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its position in shares of Valmont Industries by 2.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company's stock valued at $470,000 after purchasing an additional 42 shares during the period. WealthPlan Investment Management LLC raised its holdings in 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 acquiring an additional 63 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Valmont Industries by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 14,190 shares of the industrial products company's stock worth $3,240,000 after acquiring an additional 67 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Valmont Industries by 1.4% during the second quarter. Commonwealth Equity Services LLC now owns 5,087 shares of the industrial products company's stock worth $1,396,000 after purchasing an additional 70 shares in the last quarter. Finally, Nicollet Investment Management Inc. raised its stake in Valmont Industries by 1.4% during the 1st quarter. Nicollet Investment Management Inc. now owns 5,054 shares of the industrial products company's stock valued at $1,154,000 after purchasing an additional 71 shares during the period. Institutional investors own 87.84% of the company's stock.

Insider Buying and Selling

In related news, CFO Timothy P. Francis sold 2,300 shares of the business's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now owns 3,685 shares in the company, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the firm's stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares of the company's stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Valmont Industries Price Performance

Shares of VMI stock traded up $3.80 on Monday, reaching $294.34. The company's stock had a trading volume of 69,344 shares, compared to its average volume of 158,207. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 38.78 and a beta of 1.02. The stock's fifty day simple moving average is $282.43 and its 200-day simple moving average is $261.15. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. Valmont Industries, Inc. has a 1 year low of $188.63 and a 1 year high of $307.67.

Valmont Industries (NYSE:VMI - Get Free Report) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.72. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. Analysts forecast that Valmont Industries, Inc. will post 16.76 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, September 27th. Valmont Industries's payout ratio is 31.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VMI shares. Stifel Nicolaus increased their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, July 18th. StockNews.com raised shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 12th. Finally, DA Davidson boosted their price target on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $332.50.

Valmont Industries 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.