Valmont Industries (NYSE:VMI) Price Target Raised to $387.00

Valmont Industries (NYSE:VMI) had its price objective boosted by Stifel Nicolaus from $382.00 to $387.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Separately, DA Davidson upped their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Stock Performance

VMI stock opened at $342.33 on Friday. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 23.26 and a beta of 1.05. The firm has a 50-day simple moving average of $327.21 and a two-hundred day simple moving average of $305.72. Valmont Industries has a one year low of $202.01 and a one year high of $354.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35.

Insider Buying and Selling

In other news, Director Mogens C. Bay sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the sale, the director now owns 131,730 shares of the company’s stock, valued at $45,963,231.60. This trade represents a 13.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daas Kaj Den sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $338.78, for a total transaction of $338,780.00. Following the sale, the director now directly owns 8,644 shares in the company, valued at $2,928,414.32. The trade was a 10.37 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Valmont Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 54 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Valmont Industries during the 3rd quarter valued at approximately $35,000. Exchange Traded Concepts LLC purchased a new position in shares of Valmont Industries during the 3rd quarter valued at approximately $39,000. Quarry LP lifted 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 valued at $50,000 after buying an additional 134 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Valmont Industries during the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.