Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 30.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,124 shares of the industrial products company's stock after selling 20,613 shares during the period. Principal Financial Group Inc. owned approximately 0.24% of Valmont Industries worth $13,664,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the 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 sale, the vice president now directly owns 9,408 shares of the company's stock, valued at $2,963,520. This trade represents a 29.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the sale, the director now owns 131,730 shares in the company, valued at $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,977 shares of company stock valued at $13,950,095 over the last quarter. Insiders own 2.00% of the company's stock.

Valmont Industries Stock Performance

Shares of VMI traded down $3.34 during mid-day trading on Friday, hitting $306.54. The stock had a trading volume of 89,639 shares, compared to its average volume of 152,115. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $354.13. 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 company has a market cap of $6.14 billion, a PE ratio of 20.82 and a beta of 1.03. The company's fifty day simple moving average is $330.24 and its two-hundred day simple moving average is $298.61.

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, topping analysts' consensus estimates of $4.00 by $0.11. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The firm's revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.12 earnings per share. On average, equities analysts expect that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 annualized dividend and a yield of 0.78%. Valmont Industries's dividend payout ratio (DPR) is 16.30%.

Wall Street Analyst Weigh In

VMI has been the subject of a number of analyst reports. DA Davidson upped their price target on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Valmont Industries from $360.00 to $382.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th.

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.