Thrivent Financial for Lutherans Trims Stake in Valmont Industries, Inc. (NYSE:VMI)

Thrivent Financial for Lutherans lessened its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 18.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,815 shares of the industrial products company’s stock after selling 1,814 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Valmont Industries were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC increased its position in Valmont Industries by 1,353.5% in the first quarter. Norden Group LLC now owns 23,620 shares of the industrial products company’s stock worth $5,394,000 after buying an additional 21,995 shares in the last quarter. Mather Group LLC. increased its holdings in Valmont Industries by 2,060.0% in the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 103 shares in the last quarter. Congress Asset Management Co. MA raised its stake in Valmont Industries by 10.6% during the 1st quarter. Congress Asset Management Co. MA now owns 145,043 shares of the industrial products company’s stock worth $33,110,000 after acquiring an additional 13,941 shares during the period. Congress Wealth Management LLC DE lifted its holdings in Valmont Industries by 11.7% during the first quarter. Congress Wealth Management LLC DE now owns 27,673 shares of the industrial products company’s stock valued at $6,317,000 after purchasing an additional 2,909 shares in the last quarter. Finally, Robeco Schweiz AG increased its stake in shares of Valmont Industries by 65.2% in the fourth quarter. Robeco Schweiz AG now owns 150,855 shares of the industrial products company’s stock worth $35,226,000 after purchasing an additional 59,524 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Valmont Industries

In related news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total transaction 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 the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the firm’s stock in a transaction that occurred 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 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 currently owned by insiders.

Analyst Upgrades and Downgrades

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

Valmont Industries Stock Down 0.7 %

Shares of VMI stock opened at $287.91 on Wednesday. The company’s fifty day simple moving average is $282.60 and its two-hundred day simple moving average is $259.59. Valmont Industries, Inc. has a 52 week low of $188.63 and a 52 week high of $307.67. The stock has a market cap of $5.81 billion, a P/E ratio of 37.93 and a beta of 1.03. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

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

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 31.62%.

Valmont Industries 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.