Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,600 shares of the industrial products company's stock after selling 3,600 shares during the quarter. Bank of Nova Scotia's holdings in Valmont Industries were worth $2,454,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd raised its position in shares of Valmont Industries by 175.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company's stock worth $59,000 after purchasing an additional 123 shares during the last quarter. Quarry LP raised its holdings in shares of Valmont Industries by 395.1% during the fourth quarter. Quarry LP now owns 203 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 162 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Valmont Industries by 82.3% in the first quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 102 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Valmont Industries by 23.9% in the first quarter. Signaturefd LLC now owns 270 shares of the industrial products company's stock worth $77,000 after acquiring an additional 52 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Valmont Industries during the first quarter worth approximately $90,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a report on Monday, July 21st. DA Davidson boosted their price target on shares of Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Valmont Industries from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, William Blair upgraded Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd.

Insider Transactions at Valmont Industries

In other news, CAO Timothy P. Francis sold 2,867 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $358.52, for a total value of $1,027,876.84. Following the transaction, the chief accounting officer owned 9,746 shares of the company's stock, valued at $3,494,135.92. This represents a 22.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Valmont Industries Trading Up 0.1%

Shares of NYSE VMI traded up $0.49 during trading on Friday, hitting $368.50. 139,418 shares of the company were exchanged, compared to its average volume of 168,605. The company has a fifty day moving average price of $338.57 and a 200-day moving average price of $321.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.44 and a current ratio of 2.15. The firm has a market capitalization of $7.27 billion, a PE ratio of 34.31 and a beta of 1.12. Valmont Industries, Inc. has a 12-month low of $250.07 and a 12-month high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 EPS for the quarter, topping analysts' consensus estimates of $4.78 by $0.10. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. Valmont Industries's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.91 earnings per share. As a group, equities research analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.72 annualized dividend and a yield of 0.7%. Valmont Industries's dividend payout ratio (DPR) is 25.33%.

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.