Valmont Industries (NYSE:VMI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Valmont Industries (NYSE:VMI) had its target price hoisted by equities researchers at Stifel Nicolaus from $360.00 to $382.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 14.29% from the company’s previous close.

Separately, DA Davidson upped their target price on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Price Performance

VMI stock traded up $2.94 during trading hours on Wednesday, hitting $334.23. 25,152 shares of the stock traded hands, compared to its average volume of 151,649. The stock has a 50-day simple moving average of $325.26 and a 200 day simple moving average of $293.10. Valmont Industries has a one year low of $202.01 and a one year high of $354.13. The company has a market cap of $6.70 billion, a P/E ratio of 22.74 and a beta of 1.03. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted $4.12 earnings per share. Valmont Industries’s revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Valmont Industries will post 16.86 earnings per share for the current year.

Insider Activity

In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the sale, the director now owns 154,730 shares of the company’s stock, valued at $48,968,950.40. This trade represents a 9.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daas Kaj Den sold 1,000 shares of the firm’s 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 in the company, valued at $2,928,414.32. This trade represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,977 shares of company stock valued at $13,950,095. Insiders own 2.00% of the company’s stock.

Institutional Trading of Valmont Industries

Hedge funds have recently modified their holdings of the company. Cetera Investment Advisers bought a new position in shares of Valmont Industries during the 1st quarter worth approximately $1,796,000. Welch Group LLC bought a new position in shares of Valmont Industries during the 2nd quarter worth approximately $302,000. Raymond James & Associates lifted its position in shares of Valmont Industries by 4.5% during the 2nd quarter. Raymond James & Associates now owns 13,527 shares of the industrial products company’s stock worth $3,712,000 after buying an additional 586 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Valmont Industries by 14.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock worth $50,740,000 after buying an additional 23,275 shares during the period. Finally, Leeward Investments LLC MA lifted its position in shares of Valmont Industries by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 54,120 shares of the industrial products company’s stock worth $14,853,000 after buying an additional 2,880 shares during the period. Institutional investors own 87.84% of the company’s stock.

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.