Valmont Industries, Inc. $VMI Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Valmont Industries, Inc. (NYSE:VMI) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,282 shares of the industrial products company’s stock after selling 1,657 shares during the period. Principal Financial Group Inc.’s holdings in Valmont Industries were worth $17,169,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Horizon Corp acquired a new stake in shares of Valmont Industries during the third quarter worth about $29,000. Farther Finance Advisors LLC boosted its position in shares of Valmont Industries by 357.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC boosted its position in shares of Valmont Industries by 254.3% in the 3rd quarter. True Wealth Design LLC now owns 124 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 89 shares during the period. Parkside Financial Bank & Trust grew its stake in Valmont Industries by 93.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 128 shares of the industrial products company’s stock worth $42,000 after buying an additional 62 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Valmont Industries during the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. DA Davidson boosted their price objective on Valmont Industries from $400.00 to $415.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $491.00 to $492.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Valmont Industries in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $462.33.

Valmont Industries Trading Up 0.0%

NYSE:VMI opened at $473.90 on Tuesday. Valmont Industries, Inc. has a 12-month low of $250.07 and a 12-month high of $479.53. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $428.17 and its 200-day simple moving average is $401.80. The firm has a market cap of $9.34 billion, a P/E ratio of 40.82 and a beta of 1.22.

Valmont Industries Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.