Portside Wealth Group LLC Makes New $219,000 Investment in Valmont Industries, Inc. (NYSE:VMI)

Portside Wealth Group LLC acquired a new stake in shares of Valmont Industries, Inc. (NYSE:VMI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 755 shares of the industrial products company’s stock, valued at approximately $219,000.

Several other hedge funds have also recently modified their holdings of VMI. Wealth Enhancement Advisory Services LLC increased its holdings in Valmont Industries by 1.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock valued at $674,000 after acquiring an additional 35 shares during the last quarter. UMB Bank n.a. grew its position in shares of Valmont Industries by 3.1% during the third quarter. UMB Bank n.a. now owns 1,303 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 39 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Valmont Industries by 2.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 42 shares during the last quarter. Creative Planning lifted its position in shares of Valmont Industries by 0.5% in the second quarter. Creative Planning now owns 8,922 shares of the industrial products company’s stock worth $2,449,000 after buying an additional 45 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Valmont Industries by 117.4% during 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. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Trading Down 0.3 %

Shares of NYSE VMI opened at $340.42 on Friday. Valmont Industries, Inc. has a 1-year low of $195.73 and a 1-year high of $352.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. The business’s 50 day moving average is $296.56 and its two-hundred day moving average is $277.22. The stock has a market capitalization 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 the consensus estimate of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. As a group, research analysts expect that Valmont Industries, Inc. will post 16.84 EPS for the current year.

Valmont Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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