Vestcor Inc boosted its position in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 36.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,475 shares of the industrial products company’s stock after purchasing an additional 1,206 shares during the period. Vestcor Inc’s holdings in Valmont Industries were worth $1,298,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Valmont Industries by 117.4% during the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Valmont Industries in the 3rd quarter valued at $39,000. Quarry LP increased its position in shares of Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 134 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Valmont Industries during the 3rd quarter worth $58,000. Finally, Signaturefd LLC boosted its holdings in shares of Valmont Industries by 35.4% in the 3rd quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock worth $62,000 after buying an additional 56 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.
Insider Buying and Selling at Valmont Industries
In related news, VP R Andrew Massey sold 3,977 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the sale, the vice president now owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 29.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the transaction, the director now directly owns 131,730 shares of the company’s stock, valued at $45,963,231.60. The trade was a 13.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,977 shares of company stock valued at $13,950,095 in the last 90 days. 2.00% of the stock is currently owned by company insiders.
Valmont Industries Stock Down 0.2 %
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate of $4.00 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.12 earnings per share. As a group, equities research analysts predict that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.
Valmont Industries Dividend Announcement
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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.73%. Valmont Industries’s dividend payout ratio is 16.30%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on VMI shares. DA Davidson raised their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of Valmont Industries from $360.00 to $382.00 and gave the stock a “buy” rating in a research note on Wednesday.
Valmont Industries Company Profile
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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