State Street Corp Increases Stock Position in Valmont Industries, Inc. (NYSE:VMI)

State Street Corp raised its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,876 shares of the industrial products company's stock after purchasing an additional 6,913 shares during the period. State Street Corp owned 3.20% of Valmont Industries worth $186,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Valmont Industries by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company's stock worth $114,919,000 after purchasing an additional 14,168 shares in the last quarter. FMR LLC grew its holdings in shares of Valmont Industries by 4.0% during the third quarter. FMR LLC now owns 349,426 shares of the industrial products company's stock worth $101,316,000 after buying an additional 13,509 shares in the last quarter. Earnest Partners LLC purchased a new stake in shares of Valmont Industries during the second quarter worth about $91,878,000. Copeland Capital Management LLC raised its position in shares of Valmont Industries by 0.9% in the third quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company's stock valued at $89,113,000 after buying an additional 2,869 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Valmont Industries by 9.6% during the third quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company's stock valued at $83,689,000 after buying an additional 25,237 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on VMI. DA Davidson lifted their target price 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. Stifel Nicolaus lifted their price objective on Valmont Industries from $360.00 to $382.00 and gave the company a "buy" rating in a research report on Wednesday.

Valmont Industries Trading Down 0.6 %

Shares of VMI traded down $1.93 during mid-day trading on Friday, hitting $327.29. The company had a trading volume of 90,846 shares, compared to its average volume of 151,815. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $354.13. The business's 50-day simple moving average is $327.72 and its 200-day simple moving average is $294.14. The stock has a market cap of $6.56 billion, a PE ratio of 22.23 and a beta of 1.03. 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 (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.11. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 EPS. Sell-side analysts forecast that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be issued 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 0.73%. Valmont Industries's dividend payout ratio (DPR) is 16.30%.

Insider Activity

In other Valmont Industries news, 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 transaction, the director now directly owns 8,644 shares of the company's stock, valued at $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP R Andrew Massey sold 3,977 shares of the company's stock in a transaction dated 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 sale, the vice president now directly owns 9,408 shares of the company's stock, valued at $2,963,520. The trade was a 29.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,977 shares of company stock valued at $13,950,095 in the last three months. Corporate insiders own 2.00% of the company's stock.

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.