Valmont Industries, Inc. (NYSE:VMI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $240.81, but opened at $233.00. Valmont Industries shares last traded at $232.00, with a volume of 21 shares changing hands.
Separately, DA Davidson boosted their price objective on shares of Valmont Industries from $150.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $160.00.
The stock’s 50-day moving average price is $238.24 and its two-hundred day moving average price is $185.43. The stock has a market capitalization of $4.92 billion, a PE ratio of 35.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.68 and a current ratio of 2.36.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Friday, March 26th will be paid a $0.50 dividend. This is a boost from Valmont Industries’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, March 25th. This represents a $2.00 dividend on an annualized basis and a yield of 0.86%. Valmont Industries’s payout ratio is presently 28.33%.
In other Valmont Industries news, VP R Andrew Massey sold 1,780 shares of the company’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $241.50, for a total transaction of $429,870.00. Following the transaction, the vice president now owns 7,430 shares in the company, valued at approximately $1,794,345. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mogens C. Bay sold 25,000 shares of the company’s stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $231.30, for a total transaction of $5,782,500.00. Following the transaction, the director now owns 288,221 shares in the company, valued at approximately $66,665,517.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,562 shares of company stock worth $13,914,674. 3.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in Valmont Industries during the 4th quarter valued at about $64,000. CI Investments Inc. purchased a new stake in shares of Valmont Industries during the 4th quarter valued at about $71,000. Kepos Capital LP increased its position in shares of Valmont Industries by 40.4% during the 4th quarter. Kepos Capital LP now owns 810 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 233 shares during the last quarter. Shufro Rose & Co. LLC purchased a new stake in shares of Valmont Industries during the 4th quarter valued at about $210,000. Finally, Gyon Technologies Capital Management LP purchased a new stake in shares of Valmont Industries during the 4th quarter valued at about $212,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
About Valmont Industries (NYSE:VMI)
Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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