Chicago Capital LLC cut its holdings in Valmont Industries, Inc. (NYSE:VMI – Get Rating) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841 shares of the industrial products company's stock after selling 87 shares during the quarter. Chicago Capital LLC's holdings in Valmont Industries were worth $414,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of Valmont Industries by 69.6% in the first quarter. Quadrant Capital Group LLC now owns 117 shares of the industrial products company's stock valued at $28,000 after buying an additional 48 shares in the last quarter. Covestor Ltd boosted its stake in shares of Valmont Industries by 347.4% in the first quarter. Covestor Ltd now owns 170 shares of the industrial products company's stock valued at $41,000 after buying an additional 132 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Valmont Industries in the first quarter valued at approximately $67,000. Point72 Hong Kong Ltd purchased a new stake in shares of Valmont Industries in the fourth quarter valued at approximately $166,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of Valmont Industries in the fourth quarter valued at approximately $205,000. 88.60% of the stock is currently owned by hedge funds and other institutional investors.Get Valmont Industries alerts:
Insider Buying and Selling at Valmont Industries
In other Valmont Industries news, SVP Timothy P. Francis sold 980 shares of the business's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $284.98, for a total transaction of $279,280.40. Following the completion of the sale, the senior vice president now owns 5,938 shares of the company's stock, valued at $1,692,211.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Stephen G. Kaniewski sold 12,076 shares of the company's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $269.41, for a total value of $3,253,395.16. Following the completion of the sale, the chief executive officer now owns 43,844 shares of the company's stock, valued at $11,812,012.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy P. Francis sold 980 shares of the company's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $284.98, for a total value of $279,280.40. Following the completion of the sale, the senior vice president now directly owns 5,938 shares of the company's stock, valued at approximately $1,692,211.24. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Valmont Industries Price PerformanceShares of NYSE VMI traded down $1.87 during trading on Friday, reaching $268.62. The company had a trading volume of 140,913 shares, compared to its average volume of 113,487. Valmont Industries, Inc. has a twelve month low of $203.30 and a twelve month high of $289.98. The stock has a market capitalization of $5.74 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11. The stock has a 50-day moving average price of $274.97 and a two-hundred day moving average price of $253.18. The company has a current ratio of 2.23, a quick ratio of 1.29 and a debt-to-equity ratio of 0.64.
Valmont Industries (NYSE:VMI – Get Rating) last released its earnings results on Wednesday, July 20th. The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.29 by $0.31. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1 billion. Valmont Industries had a return on equity of 17.71% and a net margin of 5.49%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.06 earnings per share. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 13.86 earnings per share for the current year.
Valmont Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 23rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, September 22nd. Valmont Industries's dividend payout ratio (DPR) is presently 21.83%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Northcoast Research assumed coverage on Valmont Industries in a report on Friday, July 15th. They set a "buy" rating and a $300.00 price objective for the company. TheStreet raised Valmont Industries from a "c+" rating to a "b+" rating in a report on Thursday, August 25th. Roth Capital began coverage on Valmont Industries in a report on Friday, June 3rd. They set a "buy" rating and a $297.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on Valmont Industries from $300.00 to $267.00 in a report on Monday, July 18th.
Valmont Industries Profile
Valmont Industries, Inc engages in the designing and manufacturing of engineered fabricated metal products and service. It operates through the following four segments: Engineered Support Structures, Utility Support Structures, Irrigation, and Coatings. The Engineered Support Structures segment produces engineered access systems, highway safety products, and integrated structure solutions for smart cities.
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