Principal Financial Group Inc. Sells 20,613 Shares of Valmont Industries, Inc. (NYSE:VMI)

Principal Financial Group Inc. lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 30.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,124 shares of the industrial products company’s stock after selling 20,613 shares during the quarter. Principal Financial Group Inc.’s holdings in Valmont Industries were worth $13,664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Valmont Industries by 117.4% in the 3rd 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. Mather Group LLC. grew its holdings in shares of Valmont Industries by 2,060.0% in the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 103 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Valmont Industries in the third quarter valued at approximately $39,000. Quarry LP increased its position in shares of Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 134 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in Valmont Industries during the second quarter worth $52,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Stock Performance

NYSE:VMI opened at $338.02 on Friday. The company has a market capitalization of $6.77 billion, a P/E ratio of 22.96 and a beta of 1.02. The business has a fifty day simple moving average of $303.51 and a two-hundred day simple moving average of $281.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $352.57.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $4.12 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts expect that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently declared 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 annualized dividend 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 currently 16.30%.

Analysts Set New Price Targets

A number of research analysts have issued reports on VMI shares. DA Davidson upped their price objective on Valmont Industries from $340.00 to $380.00 and gave the company 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 lifted their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Insider Activity at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the sale, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mogens C. Bay sold 17,000 shares of the firm’s 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 owns 154,730 shares of the company’s stock, 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. 2.00% of the stock is currently owned by corporate insiders.

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.