Thomas Mitchell Parnell Sells 761 Shares of Valmont Industries, Inc. (NYSE:VMI) Stock

Valmont Industries, Inc. (NYSE:VMIGet Rating) SVP Thomas Mitchell Parnell sold 761 shares of Valmont Industries stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $262.73, for a total value of $199,937.53. Following the completion of the sale, the senior vice president now owns 2,788 shares of the company’s stock, valued at $732,491.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE VMI traded down $8.32 during mid-day trading on Tuesday, reaching $255.28. 3,126 shares of the company’s stock traded hands, compared to its average volume of 98,011. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.25 and a quick ratio of 1.28. The business has a 50-day simple moving average of $233.95 and a 200 day simple moving average of $237.39. The stock has a market cap of $5.44 billion, a P/E ratio of 27.92 and a beta of 1.17. Valmont Industries, Inc. has a 1-year low of $203.30 and a 1-year high of $277.00.

Valmont Industries (NYSE:VMIGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The industrial products company reported $3.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.63. The business had revenue of $980.82 million for the quarter, compared to analysts’ expectations of $888.07 million. Valmont Industries had a net margin of 5.47% and a return on equity of 17.60%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.57 EPS. Equities research analysts anticipate that Valmont Industries, Inc. will post 13.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, March 25th were given a dividend of $0.55 per share. This is a boost from Valmont Industries’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. Valmont Industries’s payout ratio is presently 23.31%.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its stake in Valmont Industries by 136.7% during the 2nd quarter. Morgan Stanley now owns 53,572 shares of the industrial products company’s stock valued at $12,645,000 after acquiring an additional 30,937 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Valmont Industries by 7.1% in the third quarter. Sigma Planning Corp now owns 1,602 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 106 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Valmont Industries by 25.0% during the third quarter. New York State Common Retirement Fund now owns 126,903 shares of the industrial products company’s stock valued at $29,837,000 after purchasing an additional 25,342 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Valmont Industries by 9.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,263 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 110 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Valmont Industries by 3.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 7,511 shares of the industrial products company’s stock worth $1,766,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

VMI has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Valmont Industries from a “buy” rating to a “hold” rating and set a $259.00 target price on the stock. in a research note on Wednesday, April 20th. DA Davidson boosted their target price on Valmont Industries from $235.00 to $260.00 in a research report on Friday. Finally, StockNews.com assumed coverage on Valmont Industries in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Valmont Industries Company Profile (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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