Huntington National Bank Acquires 35 Shares of Valmont Industries, Inc. (NYSE:VMI)

Huntington National Bank lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 16.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 247 shares of the industrial products company’s stock after purchasing an additional 35 shares during the quarter. Huntington National Bank’s holdings in Valmont Industries were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in VMI. US Bancorp DE boosted its position in Valmont Industries by 38.8% during the first quarter. US Bancorp DE now owns 2,631 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 736 shares during the period. Seven Eight Capital LP bought a new stake in shares of Valmont Industries during the 1st quarter worth about $636,000. CANADA LIFE ASSURANCE Co grew its stake in Valmont Industries by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,190 shares of the industrial products company’s stock valued at $3,240,000 after buying an additional 67 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Valmont Industries in the 1st quarter valued at about $122,000. Finally, EntryPoint Capital LLC lifted its position in Valmont Industries by 180.7% during the first quarter. EntryPoint Capital LLC now owns 991 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 638 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 29.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the completion of the transaction, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Valmont Industries Stock Up 0.7 %

Shares of VMI opened at $340.25 on Tuesday. 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 12 month low of $202.01 and a 12 month high of $352.57. The firm’s 50 day moving average is $304.97 and its 200-day moving average is $283.07. The stock has a market capitalization of $6.82 billion, a PE ratio of 23.11 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates 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 was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $4.12 EPS. Equities research analysts forecast that Valmont Industries, Inc. will post 16.86 EPS for the current year.

Valmont Industries Dividend Announcement

The company 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 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 is 16.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus increased their price objective on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, 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.

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.