Geode Capital Management LLC Acquires 4,940 Shares of Valmont Industries, Inc. (NYSE:VMI)

Geode Capital Management LLC raised its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 335,926 shares of the industrial products company's stock after purchasing an additional 4,940 shares during the quarter. Geode Capital Management LLC owned 1.68% of Valmont Industries worth $97,428,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of Valmont Industries by 12.5% during the third quarter. First Horizon Advisors Inc. now owns 279 shares of the industrial products company's stock worth $81,000 after purchasing an additional 31 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Valmont Industries by 1.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company's stock valued at $674,000 after buying an additional 35 shares during the period. Huntington National Bank grew its holdings in shares of Valmont Industries by 16.5% during the 3rd quarter. Huntington National Bank now owns 247 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 35 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Valmont Industries by 3.1% in the third quarter. UMB Bank n.a. now owns 1,303 shares of the industrial products company's stock worth $378,000 after acquiring an additional 39 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Valmont Industries by 2.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company's stock worth $470,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Buying and Selling at Valmont Industries

In related news, Director Daas Kaj Den sold 1,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares in the company, valued at approximately $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the sale, the director now directly owns 131,730 shares in the company, valued at approximately $45,963,231.60. This trade represents a 13.18 % decrease in their ownership of the stock. 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. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. DA Davidson upped their target price on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on Valmont Industries from $360.00 to $382.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th.

Valmont Industries Stock Down 1.9 %

NYSE:VMI traded down $5.84 during trading hours on Thursday, reaching $306.11. The company's stock had a trading volume of 212,632 shares, compared to its average volume of 151,705. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 20.80 and a beta of 1.03. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $354.13. The business's 50-day moving average is $329.55 and its 200-day moving average is $295.95.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts' consensus estimates of $4.00 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 EPS. Equities research analysts predict that Valmont Industries, Inc. will post 16.85 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 annualized dividend and a yield of 0.78%. Valmont Industries's payout ratio is 16.30%.

Valmont Industries 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.