Franklin Resources Inc. Raises Holdings in Valmont Industries, Inc. (NYSE:VMI)

Franklin Resources Inc. grew its position in Valmont Industries, Inc. (NYSE:VMI) by 57.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 407,308 shares of the industrial products company’s stock after purchasing an additional 148,811 shares during the quarter. Franklin Resources Inc.’s holdings in Valmont Industries were worth $123,512,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in VMI. GAMMA Investing LLC lifted its stake in shares of Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Valmont Industries during the 3rd quarter worth $35,000. Exchange Traded Concepts LLC purchased a new stake in shares of Valmont Industries during the 3rd quarter worth $39,000. Quarry LP lifted its stake in shares of 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, Point72 Asset Management L.P. purchased a new stake in shares of Valmont Industries during the 3rd quarter worth $58,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Stock Down 0.4 %

Shares of VMI stock opened at $327.82 on Monday. The stock’s 50-day simple moving average is $327.72 and its 200-day simple moving average is $294.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. The firm has a market capitalization of $6.57 billion, a PE ratio of 22.27 and a beta of 1.03. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $354.13.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.12 earnings per share. Equities analysts expect that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.73%. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. DA Davidson upped their target price on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus upped their target price on Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th.

Insider Activity

In related news, Director Mogens C. Bay sold 20,000 shares of the stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daas Kaj Den sold 1,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now directly owns 8,644 shares of the company’s stock, valued at approximately $2,928,414.32. This represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,977 shares of company stock worth $13,950,095 over the last quarter. 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.