Beaconlight Capital LLC Reduces Stake in Valmont Industries, Inc. (NYSE:VMI)

Beaconlight Capital LLC lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,195 shares of the industrial products company’s stock after selling 1,253 shares during the quarter. Valmont Industries accounts for 2.5% of Beaconlight Capital LLC’s portfolio, making the stock its 19th biggest position. Beaconlight Capital LLC’s holdings in Valmont Industries were worth $6,145,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. grew its holdings 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 purchasing an additional 103 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Valmont Industries by 292.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,386 shares of the industrial products company’s stock worth $929,000 after acquiring an additional 2,523 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Valmont Industries by 14.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock worth $50,740,000 after acquiring an additional 23,275 shares during the period. Foundry Partners LLC purchased a new stake in Valmont Industries during the third quarter valued at about $4,158,000. Finally, Ecofi Investissements SA bought a new position in Valmont Industries during the second quarter worth about $3,238,000. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of Valmont Industries stock traded up $1.87 on Wednesday, reaching $353.84. The stock had a trading volume of 5,528 shares, compared to its average volume of 153,567. The business’s 50 day moving average is $311.99 and its two-hundred day moving average is $286.33. 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, Inc. has a 1 year low of $202.01 and a 1 year high of $356.40. The company has a market cap of $7.09 billion, a P/E ratio of 23.91 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.12 EPS. As a group, research analysts anticipate that Valmont Industries, Inc. will post 16.86 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Analyst Upgrades and Downgrades

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

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Daas Kaj Den sold 1,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $338.78, for a total transaction of $338,780.00. Following the transaction, the director now directly owns 8,644 shares in the company, valued at $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction that occurred on 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 transaction, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This trade represents a 29.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,977 shares of company stock valued at $6,971,695 over the last three months. 1.90% of the stock is owned by corporate 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.