Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 57,246 shares of the industrial products company’s stock after selling 424 shares during the period. Retirement Systems of Alabama’s holdings in Valmont Industries were worth $16,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Valmont Industries during the 3rd quarter worth approximately $466,000. Foundry Partners LLC acquired a new stake in Valmont Industries during the third quarter valued at $4,158,000. De Lisle Partners LLP raised its position in shares of Valmont Industries by 44.6% in the third quarter. De Lisle Partners LLP now owns 18,800 shares of the industrial products company’s stock worth $5,454,000 after acquiring an additional 5,800 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Valmont Industries by 12.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 208,645 shares of the industrial products company’s stock worth $60,497,000 after acquiring an additional 23,765 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. grew its position in shares of Valmont Industries by 69.9% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 7,287 shares of the industrial products company’s stock valued at $2,113,000 after acquiring an additional 2,997 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Stock Down 0.4 %

VMI opened at $327.82 on Monday. The company has a market cap of $6.57 billion, a PE ratio of 22.27 and a beta of 1.03. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $354.13. The company has a 50-day moving average price of $327.72 and a 200 day moving average price of $294.75. 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) last announced its earnings results 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. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.12 earnings per share. Sell-side analysts expect that Valmont Industries, Inc. will post 16.85 earnings per share for the current fiscal 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 annualized dividend and a yield of 0.73%. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Insider Transactions at Valmont Industries

In other news, Director Mogens C. Bay sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the sale, the director now directly owns 131,730 shares in the company, valued at $45,963,231.60. This represents a 13.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP R Andrew Massey sold 3,977 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the sale, the vice president now directly owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 29.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,977 shares of company stock valued at $13,950,095 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VMI has been the subject of a number of analyst reports. DA Davidson upped their price target on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on Valmont Industries from $360.00 to $382.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

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.