Amalgamated Bank decreased its stake in Valmont Industries, Inc. (NYSE:VMI – Get Rating) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,616 shares of the industrial products company's stock after selling 532 shares during the period. Amalgamated Bank owned 0.07% of Valmont Industries worth $3,487,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of VMI. Private Advisor Group LLC acquired a new stake in Valmont Industries during the 4th quarter worth $795,000. Renaissance Technologies LLC raised its position in Valmont Industries by 0.8% during the 4th quarter. Renaissance Technologies LLC now owns 12,200 shares of the industrial products company's stock worth $3,056,000 after buying an additional 100 shares during the last quarter. Geode Capital Management LLC raised its position in Valmont Industries by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 263,268 shares of the industrial products company's stock worth $65,948,000 after buying an additional 9,290 shares during the last quarter. Invesco Ltd. raised its position in Valmont Industries by 9.3% during the 4th quarter. Invesco Ltd. now owns 795,043 shares of the industrial products company's stock worth $199,160,000 after buying an additional 67,951 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new position in Valmont Industries during the 4th quarter worth $205,000. Institutional investors and hedge funds own 88.60% of the company's stock.
Get Valmont Industries alerts:Valmont Industries Stock Performance
NYSE:VMI opened at $265.50 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.29 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $271.69 and a two-hundred day moving average price of $251.61. Valmont Industries, Inc. has a twelve month low of $203.30 and a twelve month high of $289.98. The company has a market capitalization of $5.67 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11.
Valmont Industries (NYSE:VMI – Get Rating) last posted its earnings results on Wednesday, July 20th. The industrial products company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.29 by $0.31. Valmont Industries had a net margin of 5.49% and a return on equity of 17.71%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm posted $3.06 EPS. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts expect that Valmont Industries, Inc. will post 13.86 earnings per share for the current fiscal year.Valmont Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 23rd will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, September 22nd. This represents a $2.20 annualized dividend and a dividend yield of 0.83%. Valmont Industries's dividend payout ratio is currently 21.83%.
Insiders Place Their Bets
In other Valmont Industries news, SVP Timothy P. Francis sold 980 shares of the firm's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $284.98, for a total transaction of $279,280.40. Following the sale, the senior vice president now directly owns 5,938 shares of the company's stock, valued at approximately $1,692,211.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephen G. Kaniewski sold 12,076 shares of the firm's stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $269.41, for a total value of $3,253,395.16. Following the sale, the chief executive officer now directly owns 43,844 shares of the company's stock, valued at $11,812,012.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy P. Francis sold 980 shares of the firm's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $284.98, for a total transaction of $279,280.40. Following the completion of the sale, the senior vice president now directly owns 5,938 shares in the company, valued at $1,692,211.24. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
VMI has been the subject of a number of analyst reports. Roth Capital initiated coverage on shares of Valmont Industries in a research report on Friday, June 3rd. They set a "buy" rating and a $297.00 price objective for the company. Northcoast Research started coverage on shares of Valmont Industries in a research report on Friday, July 15th. They set a "buy" rating and a $300.00 price objective for the company. TheStreet upgraded shares of Valmont Industries from a "c+" rating to a "b+" rating in a report on Thursday, August 25th. Finally, Stifel Nicolaus cut their price target on shares of Valmont Industries from $300.00 to $267.00 in a report on Monday, July 18th.
About Valmont Industries
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Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. It operates through two segments: Infrastructure and Agriculture. The company manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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