Zurcher Kantonalbank Zurich Cantonalbank Has $7.87 Million Position in Valmont Industries, Inc. (NYSE:VMI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 1.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,148 shares of the industrial products company’s stock after selling 502 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Valmont Industries were worth $7,872,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Valmont Industries by 117.4% during the third 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 last quarter. Mather Group LLC. increased its position in 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 purchasing an additional 103 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Valmont Industries in the third quarter worth about $39,000. Quarry LP raised its holdings in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 134 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new position in Valmont Industries during the 2nd quarter valued at about $52,000. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VMI shares. Stifel Nicolaus boosted their price target on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, DA Davidson increased their price target on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

Valmont Industries Stock Performance

Shares of VMI stock opened at $347.86 on Monday. The stock has a market cap of $6.97 billion, a PE ratio of 23.63 and a beta of 1.02. The stock has a 50-day moving average of $317.56 and a 200-day moving average of $288.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $354.13.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share 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 analyst estimates of $1.02 billion. During the same period last year, the business posted $4.12 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.69%. Valmont Industries’s payout ratio is 16.30%.

Insiders Place Their Bets

In other news, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $316.48, for a total value of $5,380,160.00. Following the completion of the transaction, the director now owns 154,730 shares in the company, valued at $48,968,950.40. This represents a 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daas Kaj Den sold 1,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $338.78, for a total transaction of $338,780.00. Following the sale, the director now owns 8,644 shares in the company, valued at approximately $2,928,414.32. The trade was a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,977 shares of company stock worth $6,971,695 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

About Valmont Industries

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.