Principal Financial Group Inc. Sells 20,613 Shares of Valmont Industries, Inc. (NYSE:VMI)

Principal Financial Group Inc. cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 30.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,124 shares of the industrial products company's stock after selling 20,613 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Valmont Industries worth $13,664,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company's stock worth $29,000 after purchasing an additional 54 shares during the last quarter. Mather Group LLC. lifted its holdings in Valmont Industries by 2,060.0% in the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company's stock worth $30,000 after buying an additional 103 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Valmont Industries in the 3rd quarter worth approximately $39,000. Quarry LP grew its position in shares of Valmont Industries by 268.0% in 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 last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Valmont Industries during the second quarter valued at approximately $52,000. 87.84% of the stock is currently owned by institutional investors.

Insider Activity at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of the firm's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the transaction, the vice president now directly owns 9,408 shares of the company's stock, valued at approximately $2,963,520. This trade represents a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mogens C. Bay sold 17,000 shares of the business's stock in a transaction on 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 completion of the sale, the director now owns 154,730 shares in the company, valued at approximately $48,968,950.40. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Valmont Industries Stock Down 0.6 %

Shares of NYSE:VMI traded down $2.00 during midday trading on Friday, reaching $338.02. The company's stock had a trading volume of 110,779 shares, compared to its average volume of 142,278. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $303.51 and a 200-day moving average of $281.88. The firm has a market capitalization of $6.77 billion, a P/E ratio of 22.96 and a beta of 1.02. Valmont Industries, Inc. has a 12-month low of $202.01 and a 12-month high of $352.57.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (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 the consensus estimate of $1.02 billion. The business's revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 earnings per share. On average, research analysts anticipate that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.71%. Valmont Industries's dividend payout ratio (DPR) is currently 16.30%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VMI shares. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $350.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, October 24th. DA Davidson increased their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded Valmont Industries from a "buy" rating to a "strong-buy" rating in a report on Monday, August 12th.

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.