Valmont Industries (NYSE:VMI) Hits New 1-Year High on Strong Earnings

Valmont Industries, Inc. (NYSE:VMI) shares reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $356.97 and last traded at $356.71, with a volume of 48596 shares traded. The stock had previously closed at $320.79.

The industrial products company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. During the same period last year, the company posted $3.18 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. DA Davidson increased their target price on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $382.00 to $387.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

Insider Buying and Selling at Valmont Industries

In related news, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the sale, the director now owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. This trade represents a 13.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Valmont Industries during the 4th quarter valued at about $67,822,000. Franklin Resources Inc. grew its holdings in Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after acquiring an additional 148,811 shares during the last quarter. US Bancorp DE grew its stake in shares of Valmont Industries by 2,077.0% in the fourth quarter. US Bancorp DE now owns 58,779 shares of the industrial products company’s stock worth $18,026,000 after purchasing an additional 56,079 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Valmont Industries during the fourth quarter valued at approximately $14,180,000. Finally, Wellington Management Group LLP increased its position in Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock valued at $71,825,000 after purchasing an additional 34,772 shares during the period. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Trading Up 17.8 %

The company has a market capitalization of $7.57 billion, a P/E ratio of 25.68 and a beta of 1.05. The stock’s 50 day moving average is $322.28 and its 200-day moving average is $310.97. 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 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.