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Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Verition Fund Management LLC

Valmont Industries logo with Industrial Products background

Verition Fund Management LLC lessened its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 71.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 690 shares of the industrial products company's stock after selling 1,734 shares during the quarter. Verition Fund Management LLC's holdings in Valmont Industries were worth $200,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VMI. Raymond James & Associates raised its stake in shares of Valmont Industries by 4.5% in the second quarter. Raymond James & Associates now owns 13,527 shares of the industrial products company's stock valued at $3,712,000 after acquiring an additional 586 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Valmont Industries by 58.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 248 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 91 shares in the last quarter. Fifth Third Bancorp lifted its stake in Valmont Industries by 1,606.3% in the second quarter. Fifth Third Bancorp now owns 8,088 shares of the industrial products company's stock valued at $2,220,000 after buying an additional 7,614 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Valmont Industries by 39.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company's stock worth $71,040,000 after purchasing an additional 73,084 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Valmont Industries by 23.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,650 shares of the industrial products company's stock worth $7,589,000 after buying an additional 5,265 shares during the period. Institutional investors own 87.84% of the company's stock.

Valmont Industries Trading Down 1.6 %

Shares of NYSE:VMI traded down $5.24 during trading on Tuesday, reaching $326.24. The company's stock had a trading volume of 105,793 shares, compared to its average volume of 151,500. The stock has a market capitalization of $6.54 billion, a PE ratio of 22.16 and a beta of 1.03. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The firm's 50 day simple moving average is $329.15 and its two-hundred day simple moving average is $295.84. Valmont Industries, Inc. has a 12 month low of $202.01 and a 12 month high of $354.13.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 23.10% and a net margin of 7.38%. The business's revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.12 EPS. On average, research analysts predict that Valmont Industries, Inc. will post 16.85 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a $0.60 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.74%. Valmont Industries's dividend payout ratio (DPR) is presently 16.30%.

Insider Buying and Selling at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the transaction, the vice president now directly owns 9,408 shares in the company, valued at approximately $2,963,520. This trade represents a 29.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction on Friday, October 25th. The shares were sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the completion of the transaction, the director now owns 154,730 shares in the company, valued at approximately $48,968,950.40. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,977 shares of company stock worth $13,950,095. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VMI shares. Stifel Nicolaus increased their price objective on shares of Valmont Industries from $360.00 to $382.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. DA Davidson lifted their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th.

Get Our Latest Stock Report on VMI

Valmont Industries Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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