Synovus Financial Corp Purchases 1,522 Shares of Valmont Industries, Inc. (NYSE:VMI)

Synovus Financial Corp boosted its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 65.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,837 shares of the industrial products company's stock after buying an additional 1,522 shares during the period. Synovus Financial Corp's holdings in Valmont Industries were worth $1,113,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Earnest Partners LLC bought a new position in shares of Valmont Industries during the second quarter valued at $91,878,000. Sei Investments Co. increased its stake in Valmont Industries by 794.2% during the 2nd quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company's stock valued at $54,373,000 after purchasing an additional 175,961 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Valmont Industries by 39.3% in the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company's stock worth $71,040,000 after buying an additional 73,084 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Valmont Industries by 113.5% in the second quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company's stock worth $19,656,000 after buying an additional 38,080 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Valmont Industries by 16.3% during the third quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company's stock valued at $71,825,000 after buying an additional 34,772 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Valmont Industries Stock Performance

Shares of NYSE VMI traded down $5.15 during trading on Tuesday, reaching $326.32. 105,795 shares of the company traded hands, compared to its average volume of 151,500. The firm has a 50 day simple moving average of $328.46 and a 200-day simple moving average of $295.31. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $354.13. The stock has a market capitalization of $6.54 billion, a PE ratio of 21.99 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 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. The company had revenue of $1.02 billion for 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 firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $4.12 earnings per share. Equities research analysts anticipate that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, December 27th. Valmont Industries's dividend payout ratio is 16.30%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This represents a 29.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mogens C. Bay sold 20,000 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the transaction, the director now directly owns 131,730 shares in the company, valued at approximately $45,963,231.60. This represents a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,977 shares of company stock valued at $13,950,095. 1.90% of the stock is owned by company 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.