Fmr LLC Buys 13,509 Shares of Valmont Industries, Inc. (NYSE:VMI)

FMR LLC grew its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 349,426 shares of the industrial products company's stock after purchasing an additional 13,509 shares during the period. FMR LLC owned about 1.74% of Valmont Industries worth $101,316,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VMI. D.A. Davidson & CO. grew its stake in Valmont Industries by 30.1% in the third quarter. D.A. Davidson & CO. now owns 43,709 shares of the industrial products company's stock valued at $12,674,000 after purchasing an additional 10,120 shares in the last quarter. Bank of Montreal Can increased its holdings in Valmont Industries by 371.6% during the third quarter. Bank of Montreal Can now owns 21,927 shares of the industrial products company's stock worth $6,338,000 after buying an additional 17,278 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in Valmont Industries by 53.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,575 shares of the industrial products company's stock worth $747,000 after acquiring an additional 900 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Valmont Industries in the 3rd quarter valued at about $558,000. Finally, Algert Global LLC increased its stake in shares of Valmont Industries by 96.8% during the 3rd quarter. Algert Global LLC now owns 22,626 shares of the industrial products company's stock worth $6,560,000 after purchasing an additional 11,130 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

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

Valmont Industries Stock Performance

VMI stock traded down $4.35 during mid-day trading on Thursday, hitting $345.42. 76,444 shares of the company were exchanged, compared to its average volume of 152,754. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $354.13. The stock has a market capitalization of $6.92 billion, a PE ratio of 23.53 and a beta of 1.03. The business has a 50 day simple moving average of $321.33 and a 200-day simple moving average of $290.56. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts' consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $4.12 EPS. The company's revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.69%. Valmont Industries's payout ratio is presently 16.30%.

Insider Transactions at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the business's stock in a transaction on Friday, October 25th. The stock was 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $316.48, for a total value of $5,380,160.00. Following the completion of the sale, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,977 shares of company stock valued at $13,950,095. 2.00% of the stock is currently 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.