Algert Global LLC Acquires 11,130 Shares of Valmont Industries, Inc. (NYSE:VMI)

Algert Global LLC grew its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 96.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,626 shares of the industrial products company's stock after purchasing an additional 11,130 shares during the period. Algert Global LLC owned about 0.11% of Valmont Industries worth $6,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VMI. Mather Group LLC. boosted its stake in shares of Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 103 shares during the period. Harbor Capital Advisors Inc. boosted its position in Valmont Industries by 292.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,386 shares of the industrial products company's stock valued at $929,000 after buying an additional 2,523 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Valmont Industries by 14.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company's stock valued at $50,740,000 after buying an additional 23,275 shares during the period. Foundry Partners LLC bought a new stake in Valmont Industries in the 3rd quarter worth $4,158,000. Finally, Ecofi Investissements SA purchased a new position in shares of Valmont Industries in the second quarter valued at about $3,238,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Stock Up 1.0 %

Valmont Industries stock traded up $3.35 during trading hours on Friday, hitting $342.09. The stock had a trading volume of 237,906 shares, compared to its average volume of 122,961. Valmont Industries, Inc. has a 12-month low of $202.01 and a 12-month high of $352.57. The stock has a market capitalization of $6.85 billion, a P/E ratio of 23.24 and a beta of 1.02. The stock's 50-day moving average price is $310.53 and its 200-day moving average price is $285.43. 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 16.86 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, December 27th. Valmont Industries's dividend payout ratio is presently 16.30%.

Insider Transactions at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now directly owns 9,408 shares of the company's stock, valued at approximately $2,963,520. The trade was a 29.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mogens C. Bay sold 17,000 shares of the company'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 transaction, the director now owns 154,730 shares of the company's stock, valued at approximately $48,968,950.40. This represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,977 shares of company stock valued at $6,971,695 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VMI has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Valmont Industries from $350.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, October 24th. StockNews.com raised Valmont Industries from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 12th. Finally, DA Davidson upped their target price on Valmont Industries from $340.00 to $380.00 and gave the company a "buy" rating in a report on Thursday, October 24th.

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.