OMAHA, NE—Mogens C. Bay, a director at Valmont Industries Inc . (NYSE:VMI), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Bay sold a total of 20,000 shares of common stock on December 2, 2024. The transactions were executed at prices ranging from $348.20 to $350.05 per share, resulting in a total sale value of approximately $6.98 million. The sale comes as VMI trades near its 52-week high of $354.13, with the stock delivering an impressive 50.6% return year-to-date. According to InvestingPro analysis, the stock is currently trading close to its Fair Value.
Following these transactions, Bay retains ownership of 131,730 shares of Valmont Industries. The sales were made in multiple transactions, as detailed in the footnotes of the filing. These filings are part of the routine disclosure required for corporate insiders who buy or sell shares in their own companies.
Valmont Industries, headquartered in Omaha, Nebraska, is known for its fabricated structural metal products. The company continues to be a significant player in the manufacturing sector, with its stock traded on the New York Stock Exchange under the ticker symbol VMI.
In other recent news, Valmont Industries has reported some significant developments. The company recently announced the appointment of Deborah Caplan to its Board of Directors. Caplan, a seasoned executive with a background in utility markets and talent development, is expected to bring valuable contributions to Valmont's strategic initiatives.
In terms of financial performance, Valmont disclosed a third-quarter revenue of $1.02 billion and a diluted EPS of $4.11. Analyst firms Stifel, CL King, and DA Davidson all maintained a Buy rating on the company's stock. Stifel raised its price target to $360, citing strong margins in the Infrastructure segment, while CL King held its target at $335. DA Davidson adjusted its price target from $340 to $380, expressing increased confidence in the infrastructure segment's demand and margins.
Despite a challenging market, Valmont demonstrated resilience with a slight decrease of 2.9% in net sales to $1 billion and a robust operating profit growth of $125.7 million. The telecom sector is reportedly recovering with an 8% growth driven by 5G expansion, and progress is being made on an $85 million project in the EMEA region, particularly in Egypt. Despite the impact of Hurricanes Helene and Milton, Valmont managed to maintain steady growth, with storm sales in agriculture approximately double the historical average. These recent developments highlight the company's ability to navigate market challenges and maintain a steady course for growth.
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