Hamel Associates Inc. Sells 445 Shares of Valmont Industries, Inc. (NYSE:VMI)

Hamel Associates Inc. lessened its holdings in Valmont Industries, Inc. (NYSE:VMI) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,678 shares of the industrial products company’s stock after selling 445 shares during the period. Valmont Industries comprises approximately 2.1% of Hamel Associates Inc.’s holdings, making the stock its 22nd biggest position. Hamel Associates Inc. owned approximately 0.12% of Valmont Industries worth $6,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VMI. Mather Group LLC. raised its stake 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 worth $30,000 after buying an additional 103 shares during the period. Versant Capital Management Inc bought a new stake in Valmont Industries during the 2nd quarter worth approximately $52,000. Principal Securities Inc. purchased a new position in Valmont Industries during the fourth quarter valued at approximately $57,000. Meeder Asset Management Inc. bought a new position in shares of Valmont Industries in the first quarter worth approximately $66,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Valmont Industries by 58.0% in the second quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus increased their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $332.50.

Valmont Industries Price Performance

Shares of NYSE:VMI traded down $4.39 during midday trading on Thursday, reaching $267.61. 41,748 shares of the company were exchanged, compared to its average volume of 165,746. The stock has a market cap of $5.40 billion, a PE ratio of 35.81 and a beta of 1.03. The business’s fifty day moving average is $280.35 and its two-hundred day moving average is $250.84. Valmont Industries, Inc. has a one year low of $188.63 and a one year high of $307.67. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, topping the consensus estimate of $4.04 by $0.72. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, analysts predict that Valmont Industries, Inc. will post 16.76 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, September 27th. Valmont Industries’s payout ratio is presently 31.62%.

Insider Activity at Valmont Industries

In related news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The disclosure for this sale can be found here. 2.00% of the stock is 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.