Valmont Industries, Inc. (NYSE:VMI) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 40.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,493 shares of the industrial products company's stock after purchasing an additional 3,284 shares during the period. Van ECK Associates Corp owned approximately 0.06% of Valmont Industries worth $3,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company's stock worth $29,000 after buying an additional 54 shares during the period. Mather Group LLC. increased its holdings in Valmont Industries by 2,060.0% during the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company's stock worth $30,000 after purchasing an additional 103 shares during the period. Exchange Traded Concepts LLC purchased a new position in Valmont Industries during the 3rd quarter worth $39,000. Quarry LP increased its holdings in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company's stock worth $50,000 after purchasing an additional 134 shares during the period. Finally, Versant Capital Management Inc purchased a new position in Valmont Industries during the 2nd quarter worth $52,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus raised their price objective on Valmont Industries from $350.00 to $360.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. StockNews.com upgraded Valmont Industries from a "buy" rating to a "strong-buy" rating in a report on Monday, August 12th. Finally, DA Davidson raised their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday, October 24th.

Insider Transactions at Valmont Industries

In other news, Director Mogens C. Bay sold 17,000 shares of the firm's stock in a transaction on Friday, October 25th. The stock was 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 owns 154,730 shares of the company's stock, valued at $48,968,950.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction dated 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 sale, the vice president now owns 9,408 shares of the company's stock, valued at approximately $2,963,520. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the sale, the director now directly owns 154,730 shares of the company's stock, valued at approximately $48,968,950.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Valmont Industries Stock Down 0.3 %

Shares of NYSE:VMI traded down $1.16 on Friday, reaching $340.42. The company had a trading volume of 97,363 shares, compared to its average volume of 138,909. Valmont Industries, Inc. has a 52-week low of $195.73 and a 52-week high of $352.57. The firm's 50 day simple moving average is $296.56 and its 200-day simple moving average is $277.22. The firm has a market capitalization of $6.82 billion, a PE ratio of 23.13 and a beta of 1.02. 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 announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $4.12 EPS. The business's revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Valmont Industries, Inc. will post 16.84 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a $0.60 dividend. 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 0.71%. Valmont Industries's payout ratio is 16.30%.

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.