Sumitomo Mitsui Trust Group Inc. Has $2.38 Million Holdings in Valmont Industries, Inc. (NYSE:VMI)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Valmont Industries, Inc. (NYSE:VMI) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,201 shares of the industrial products company’s stock after selling 589 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Valmont Industries were worth $2,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Valmont Industries by 1.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock valued at $674,000 after purchasing an additional 35 shares during the last quarter. UMB Bank n.a. raised its holdings in Valmont Industries by 3.1% in the 3rd quarter. UMB Bank n.a. now owns 1,303 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 39 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Valmont Industries by 2.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company’s stock worth $470,000 after acquiring an additional 42 shares during the period. Creative Planning raised its holdings in Valmont Industries by 0.5% in the 2nd quarter. Creative Planning now owns 8,922 shares of the industrial products company’s stock worth $2,449,000 after acquiring an additional 45 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Valmont Industries by 117.4% in the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Stock Performance

NYSE:VMI opened at $340.25 on Tuesday. The firm’s 50-day moving average is $304.97 and its 200-day moving average is $283.07. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $352.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. The company has a market cap of $6.82 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $4.12 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 9,408 shares of the company’s stock, valued at $2,963,520. The trade was a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 154,730 shares in the company, valued at approximately $48,968,950.40. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by 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.