Stephen G. Kaniewski Sells 17,540 Shares of Valmont Industries, Inc. (NYSE:VMI) Stock

Valmont Industries, Inc. (NYSE:VMIGet Rating) CEO Stephen G. Kaniewski sold 17,540 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $248.78, for a total transaction of $4,363,601.20. Following the completion of the sale, the chief executive officer now owns 43,844 shares in the company, valued at $10,907,510.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of VMI stock traded down $1.50 during trading hours on Thursday, hitting $247.07. 2,489 shares of the company were exchanged, compared to its average volume of 124,291. The business has a 50 day moving average of $244.46 and a two-hundred day moving average of $238.98. The company has a current ratio of 2.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Valmont Industries, Inc. has a 52 week low of $203.30 and a 52 week high of $277.00. The company has a market capitalization of $5.27 billion, a PE ratio of 25.85 and a beta of 1.05.

Valmont Industries (NYSE:VMIGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The industrial products company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.77. Valmont Industries had a net margin of 5.47% and a return on equity of 17.60%. The company had revenue of $980.82 million during the quarter, compared to the consensus estimate of $888.07 million. During the same quarter in the prior year, the firm earned $2.57 earnings per share. The firm’s revenue was up 26.6% compared to the same quarter last year. On average, research analysts forecast that Valmont Industries, Inc. will post 13.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, June 24th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, June 23rd. Valmont Industries’s dividend payout ratio (DPR) is currently 23.31%.

VMI has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Valmont Industries in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating and set a $293.00 price objective for the company in a research report on Wednesday, April 27th. Finally, DA Davidson increased their price objective on shares of Valmont Industries from $235.00 to $260.00 in a research report on Friday, April 22nd.

A number of institutional investors have recently added to or reduced their stakes in VMI. Morgan Stanley grew its position in Valmont Industries by 136.7% in the second quarter. Morgan Stanley now owns 53,572 shares of the industrial products company’s stock valued at $12,645,000 after purchasing an additional 30,937 shares in the last quarter. Barclays PLC grew its position in Valmont Industries by 16.9% in the third quarter. Barclays PLC now owns 20,078 shares of the industrial products company’s stock valued at $4,722,000 after purchasing an additional 2,900 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Valmont Industries in the third quarter valued at $207,000. Teacher Retirement System of Texas lifted its stake in Valmont Industries by 20.1% in the third quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock valued at $793,000 after acquiring an additional 565 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Valmont Industries by 22.1% in the third quarter. Handelsbanken Fonder AB now owns 4,965 shares of the industrial products company’s stock valued at $1,167,000 after acquiring an additional 900 shares during the last quarter. 87.29% of the stock is owned by institutional investors and hedge funds.

About Valmont Industries (Get Rating)

Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

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