Duff & Phelps Investment Management Co. Trims Stock Position in Valmont Industries, Inc. (NYSE:VMI)

Duff & Phelps Investment Management Co. decreased its stake in Valmont Industries, Inc. (NYSE:VMI) by 24.9% during the third quarter, Holdings Channel reports. The institutional investor owned 25,069 shares of the industrial products company’s stock after selling 8,297 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Valmont Industries were worth $7,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of VMI. State Street Corp lifted its holdings in Valmont Industries by 1.1% in the third quarter. State Street Corp now owns 640,876 shares of the industrial products company’s stock valued at $186,204,000 after acquiring an additional 6,913 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Valmont Industries by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company’s stock valued at $114,919,000 after purchasing an additional 14,168 shares during the period. FMR LLC lifted its stake in shares of Valmont Industries by 4.0% in the 3rd quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock valued at $101,316,000 after purchasing an additional 13,509 shares during the period. Earnest Partners LLC purchased a new stake in Valmont Industries during the second quarter worth $91,878,000. Finally, Copeland Capital Management LLC grew its position in Valmont Industries by 0.9% during the third quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company’s stock valued at $89,113,000 after buying an additional 2,869 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was 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 in the company, valued at $2,963,520. This represents a 29.71 % 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, Director Mogens C. Bay sold 20,000 shares of Valmont Industries 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 transaction, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % 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. 1.90% of the stock is currently owned by corporate insiders.

Valmont Industries Stock Down 2.0 %

VMI stock opened at $338.45 on Monday. The stock has a market capitalization of $6.78 billion, a P/E ratio of 22.99 and a beta of 1.03. Valmont Industries, Inc. has a 52 week low of $202.01 and a 52 week high of $354.13. The firm has a 50-day simple moving average of $323.45 and a 200-day simple moving average of $291.96. 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. Equities analysts forecast that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

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 0.71%. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Wall Street Analyst Weigh In

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

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.