Valmont Industries, Inc. (NYSE:VMI) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 11.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,916 shares of the industrial products company’s stock after acquiring an additional 410 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Valmont Industries were worth $1,135,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VMI. Earnest Partners LLC purchased a new position in shares of Valmont Industries in the second quarter worth about $91,878,000. Sei Investments Co. raised its stake in shares of Valmont Industries by 794.2% in the second quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock worth $54,373,000 after purchasing an additional 175,961 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Valmont Industries by 39.3% in the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock worth $71,040,000 after purchasing an additional 73,084 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Valmont Industries by 113.5% in the second quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company’s stock worth $19,656,000 after purchasing an additional 38,080 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Valmont Industries by 14.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock worth $50,740,000 after purchasing an additional 23,275 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Stock Up 0.7 %

Shares of VMI stock opened at $340.25 on Tuesday. The stock has a 50 day moving average of $304.97 and a 200 day moving average of $283.07. 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 23.11 and a beta of 1.02. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $352.57.

Valmont Industries (NYSE:VMI) last announced its quarterly 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 company 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%. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $4.12 earnings per share. As a group, sell-side analysts expect that Valmont Industries, Inc. will post 16.86 EPS for the current year.

Valmont Industries Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Mogens C. Bay sold 17,000 shares of the business’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 value of $5,380,160.00. Following the completion of the sale, the director now directly owns 154,730 shares in the company, valued at $48,968,950.40. The trade was a 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP R Andrew Massey sold 3,977 shares of the business’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 value 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 $2,963,520. This trade represents a 29.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% 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.