Valmont Industries, Inc. (NYSE:VMI) Shares Purchased by Covea Finance

Covea Finance raised its holdings in Valmont Industries, Inc. (NYSE:VMI) by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,200 shares of the industrial products company’s stock after buying an additional 3,500 shares during the period. Covea Finance’s holdings in Valmont Industries were worth $4,661,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of VMI. GAMMA Investing LLC raised its position in shares of Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 54 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Valmont Industries in the 3rd quarter valued at $35,000. Exchange Traded Concepts LLC acquired a new stake in Valmont Industries during the 3rd quarter worth $39,000. Quarry LP lifted its position in Valmont Industries by 268.0% in the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 134 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Valmont Industries in the third quarter valued at $58,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Daas Kaj Den sold 1,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $338.78, for a total transaction of $338,780.00. Following the sale, the director now owns 8,644 shares of the company’s stock, valued at $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $316.48, for a total value of $5,380,160.00. Following the sale, the director now owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. This represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,977 shares of company stock worth $13,950,095 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

VMI has been the subject of several research reports. Stifel Nicolaus boosted their target price on Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson upped their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

Valmont Industries Stock Performance

Shares of VMI stock opened at $313.22 on Wednesday. The stock has a fifty day moving average price of $328.30 and a 200 day moving average price of $301.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. The stock has a market cap of $6.28 billion, a PE ratio of 21.28 and a beta of 1.05. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $354.13.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned $4.12 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that Valmont Industries, Inc. will post 16.85 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

About Valmont Industries

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.