Colonial River Investments LLC Purchases New Stake in Valmont Industries, Inc. (NYSE:VMI)

Colonial River Investments LLC acquired a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,355 shares of the industrial products company’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VMI. Axxcess Wealth Management LLC acquired a new stake in shares of Valmont Industries during the 3rd quarter worth about $392,000. Portside Wealth Group LLC bought a new position in Valmont Industries in the 3rd quarter valued at about $219,000. Hanseatic Management Services Inc. acquired a new stake in Valmont Industries during the third quarter worth approximately $66,000. Leeward Investments LLC MA boosted its holdings in shares of Valmont Industries by 13.2% during the third quarter. Leeward Investments LLC MA now owns 61,274 shares of the industrial products company’s stock worth $17,766,000 after acquiring an additional 7,154 shares during the period. Finally, Moloney Securities Asset Management LLC grew its position in shares of Valmont Industries by 3.5% in the third quarter. Moloney Securities Asset Management LLC now owns 3,746 shares of the industrial products company’s stock valued at $1,086,000 after purchasing an additional 128 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Trading Down 0.3 %

Shares of VMI stock opened at $340.42 on Friday. The stock has a 50 day simple moving average of $296.56 and a 200 day simple moving average of $277.22. Valmont Industries, Inc. has a 1 year low of $195.73 and a 1 year high of $352.57. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. 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 (NYSE:VMI) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company posted $4.12 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts predict that Valmont Industries, Inc. will post 16.84 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

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

Insider Activity

In related news, 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 transaction of $1,252,755.00. Following the sale, the vice president now owns 9,408 shares in the company, valued at approximately $2,963,520. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP R Andrew Massey sold 3,977 shares of the business’s stock in a transaction 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 owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the director now owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VMI. Stifel Nicolaus lifted their price target on 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 target price on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report 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.

Valmont Industries Company 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.