First Horizon Advisors Inc. Grows Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

First Horizon Advisors Inc. raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 12.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 279 shares of the industrial products company’s stock after buying an additional 31 shares during the period. First Horizon Advisors Inc.’s holdings in Valmont Industries were worth $81,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. grew its position in 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 buying an additional 103 shares during the period. Harbor Capital Advisors Inc. lifted its position in Valmont Industries by 292.4% during the second quarter. Harbor Capital Advisors Inc. now owns 3,386 shares of the industrial products company’s stock valued at $929,000 after purchasing an additional 2,523 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Valmont Industries by 14.4% during the second 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 purchasing an additional 23,275 shares during the period. Ecofi Investissements SA purchased a new stake in Valmont Industries in the second quarter worth about $3,238,000. Finally, Global Alpha Capital Management Ltd. raised its stake in shares of Valmont Industries by 69.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 7,287 shares of the industrial products company’s stock worth $2,113,000 after buying an additional 2,997 shares during the period. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VMI. DA Davidson raised their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th.

Valmont Industries Trading Up 1.0 %

VMI stock opened at $342.09 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $352.57. The business has a 50 day simple moving average of $310.53 and a two-hundred day simple moving average of $285.66. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 23.24 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share 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 analyst estimates of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. Valmont Industries’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.12 earnings per share. Research analysts anticipate that Valmont Industries, Inc. will post 16.86 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The company 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%.

Insiders Place Their Bets

In other news, Director Mogens C. Bay sold 17,000 shares of the business’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 sale, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. The trade was a 9.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daas Kaj Den sold 1,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $338.78, for a total transaction of $338,780.00. Following the sale, the director now owns 8,644 shares in the company, valued at $2,928,414.32. This represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,977 shares of company stock valued at $6,971,695 in the last quarter. 2.00% of the stock is currently owned by insiders.

Valmont Industries 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.