Bridges Investment Management Inc. Decreases Stake in Valmont Industries, Inc. (NYSE:VMI)

Bridges Investment Management Inc. cut its position in Valmont Industries, Inc. (NYSE:VMI) by 28.0% during the third quarter, HoldingsChannel reports. The firm owned 2,693 shares of the industrial products company’s stock after selling 1,045 shares during the quarter. Bridges Investment Management Inc.’s holdings in Valmont Industries were worth $781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after buying an additional 54 shares during the last quarter. Mather Group LLC. boosted its position in shares of Valmont Industries by 2,060.0% during the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 103 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Valmont Industries in the 3rd quarter valued at about $39,000. Quarry LP raised its position in shares of Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 134 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new position in Valmont Industries in the second quarter valued at approximately $52,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $340.42 on Friday. The stock has a market cap of $6.82 billion, a P/E ratio of 23.13 and a beta of 1.02. Valmont Industries, Inc. has a twelve month low of $195.73 and a twelve month high of $352.57. The stock has a 50 day moving average of $296.56 and a two-hundred day moving average of $277.22. 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 (NYSE:VMI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. Valmont Industries’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, research analysts forecast that Valmont Industries, Inc. will post 16.84 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio is currently 16.30%.

Wall Street Analyst Weigh In

VMI has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. DA Davidson lifted their price target 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. Finally, StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the transaction, the director now directly owns 154,730 shares in the company, valued at approximately $48,968,950.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP R Andrew Massey sold 3,977 shares of the 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 completion of the transaction, the vice president now directly owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the transaction, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

About Valmont Industries

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.