Morgan Stanley Sells 11,032 Shares of Valmont Industries, Inc. (NYSE:VMI)


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Morgan Stanley decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 47.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,107 shares of the industrial products company’s stock after selling 11,032 shares during the period. Morgan Stanley owned 0.06% of Valmont Industries worth $1,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake in Valmont Industries by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 48,173 shares of the industrial products company’s stock worth $5,982,000 after acquiring an additional 1,243 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Valmont Industries by 11.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,222 shares of the industrial products company’s stock valued at $139,000 after buying an additional 123 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of Valmont Industries by 279.2% during the third quarter. Dupont Capital Management Corp now owns 5,510 shares of the industrial products company’s stock valued at $684,000 after buying an additional 4,057 shares during the last quarter. FMR LLC raised its position in shares of Valmont Industries by 20.3% during the second quarter. FMR LLC now owns 333,807 shares of the industrial products company’s stock valued at $37,927,000 after buying an additional 56,252 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Valmont Industries during the second quarter valued at approximately $1,768,000. Institutional investors own 85.67% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 7th. TheStreet upgraded shares of Valmont Industries from a “c+” rating to a “b” rating in a research report on Wednesday, October 21st. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. William Blair upgraded shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a research report on Monday, November 2nd. Finally, Zacks Investment Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $127.00 price target on the stock. in a research report on Tuesday, September 22nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $135.00.

In other news, VP R Andrew Massey sold 1,142 shares of the business’s stock in a transaction on Monday, November 16th. The shares were sold at an average price of $161.50, for a total transaction of $184,433.00. Following the completion of the sale, the vice president now directly owns 5,896 shares of the company’s stock, valued at $952,204. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clark T. Jr. Randt sold 1,300 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $146.33, for a total transaction of $190,229.00. Following the sale, the director now directly owns 7,329 shares of the company’s stock, valued at $1,072,452.57. The disclosure for this sale can be found here. Insiders have sold 11,324 shares of company stock valued at $1,735,618 over the last ninety days. 3.00% of the stock is owned by insiders.

Shares of VMI opened at $209.40 on Thursday. The company’s fifty day moving average is $174.30 and its 200 day moving average is $141.63. Valmont Industries, Inc. has a fifty-two week low of $82.60 and a fifty-two week high of $210.00. The stock has a market capitalization of $4.45 billion, a PE ratio of 31.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.70 and a current ratio of 2.45.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.71 by $0.28. The company had revenue of $733.97 million during the quarter, compared to analyst estimates of $690.68 million. Valmont Industries had a net margin of 5.17% and a return on equity of 14.67%. As a group, research analysts forecast that Valmont Industries, Inc. will post 7.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 24th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.86%. The ex-dividend date is Wednesday, December 23rd. Valmont Industries’s payout ratio is 25.50%.

Valmont Industries Profile

Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, 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, 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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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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