Geode Capital Management LLC grew its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 335,926 shares of the industrial products company's stock after purchasing an additional 4,940 shares during the period. Geode Capital Management LLC owned approximately 1.68% of Valmont Industries worth $97,428,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in Valmont Industries by 12.5% in the third quarter. First Horizon Advisors Inc. now owns 279 shares of the industrial products company's stock worth $81,000 after buying an additional 31 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Valmont Industries by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company's stock valued at $674,000 after acquiring an additional 35 shares during the period. Huntington National Bank lifted its holdings in shares of Valmont Industries by 16.5% in the 3rd quarter. Huntington National Bank now owns 247 shares of the industrial products company's stock worth $72,000 after acquiring an additional 35 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Valmont Industries by 3.1% during the 3rd quarter. UMB Bank n.a. now owns 1,303 shares of the industrial products company's stock worth $378,000 after purchasing an additional 39 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Valmont Industries by 2.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company's stock valued at $470,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.
In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of the company's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the completion of the sale, the director now owns 154,730 shares in the company, valued at $48,968,950.40. This represents a 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction on Friday, October 25th. The shares were sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the transaction, the vice president now owns 9,408 shares in the company, valued at $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. 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 in the last three months. Corporate insiders own 1.90% of the company's stock.
Shares of VMI stock opened at $311.95 on Thursday. The company has a market capitalization of $6.25 billion, a P/E ratio of 21.19 and a beta of 1.03. The company's 50-day simple moving average is $329.55 and its two-hundred day simple moving average is $295.95. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $354.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55.
Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $4.12 earnings per share. Valmont Industries's revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Valmont Industries, Inc. will post 16.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, December 27th. Valmont Industries's dividend payout ratio (DPR) is presently 16.30%.
Several brokerages have issued reports on VMI. DA Davidson boosted 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 boosted their price objective on Valmont Industries from $360.00 to $382.00 and gave the company a "buy" rating in a report on Wednesday, December 11th.
View Our Latest Analysis on 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.
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