Valmont Industries, Inc. (NYSE:VMI - Get Free Report) Director Mogens Bay sold 17,500 shares of Valmont Industries stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the sale, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Valmont Industries Price Performance
Shares of NYSE VMI opened at $497.14 on Wednesday. Valmont Industries, Inc. has a fifty-two week low of $286.50 and a fifty-two week high of $503.91. The firm's 50-day simple moving average is $430.85 and its 200 day simple moving average is $425.17. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $9.72 billion, a P/E ratio of 27.60 and a beta of 1.24.
Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $994.85 million. During the same period in the previous year, the business earned $4.32 earnings per share. The company's revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Valmont Industries, Inc. will post 22.93 EPS for the current year.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be given a $0.77 dividend. The ex-dividend date is Friday, June 26th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries's payout ratio is 17.10%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on VMI. JPMorgan Chase & Co. boosted their price target on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Zacks Research upgraded shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. Wall Street Zen cut shares of Valmont Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Valmont Industries in a research report on Friday, March 27th. Finally, Stifel Nicolaus boosted their price target on shares of Valmont Industries from $497.00 to $541.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Valmont Industries has an average rating of "Moderate Buy" and an average target price of $500.33.
Read Our Latest Report on Valmont Industries
Institutional Trading of Valmont Industries
Several institutional investors and hedge funds have recently bought and sold shares of VMI. Millennium Management LLC raised its holdings in Valmont Industries by 225.1% during the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company's stock worth $19,300,000 after buying an additional 46,825 shares during the period. Goldman Sachs Group Inc. raised its holdings in Valmont Industries by 8.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock worth $16,873,000 after buying an additional 4,676 shares during the period. Empowered Funds LLC acquired a new stake in Valmont Industries during the 1st quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Valmont Industries by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company's stock worth $20,692,000 after buying an additional 2,639 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock worth $43,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.
Valmont Industries Company Profile
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Get Free Report)
Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont's solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.
The company operates through several core business segments.
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