Verition Fund Management LLC Decreases Stock Position in Valmont Industries, Inc. (NYSE:VMI)

Verition Fund Management LLC lessened its position in Valmont Industries, Inc. (NYSE:VMI) by 71.5% during the 3rd quarter, HoldingsChannel.com reports. The fund 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 reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VMI. Dimensional Fund Advisors LP increased its holdings in shares of Valmont Industries by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company’s stock valued at $114,919,000 after purchasing an additional 14,168 shares during the last quarter. FMR LLC increased its holdings in shares of Valmont Industries by 4.0% in the third quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock valued at $101,316,000 after purchasing an additional 13,509 shares during the last quarter. Earnest Partners LLC acquired a new stake in shares of Valmont Industries in the second quarter valued at approximately $91,878,000. Copeland Capital Management LLC increased its holdings in shares of Valmont Industries by 0.9% in the third quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company’s stock valued at $89,113,000 after purchasing an additional 2,869 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Valmont Industries by 9.6% in the third quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company’s stock valued at $83,689,000 after purchasing an additional 25,237 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VMI. Stifel Nicolaus raised their target price on 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 raised their target price on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

Valmont Industries Price Performance

VMI stock opened at $331.47 on Tuesday. The business has a fifty day moving average of $328.46 and a two-hundred day moving average of $295.31. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 22.52 and a beta of 1.03. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $354.13.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results 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 return on equity of 23.10% and a net margin of 7.38%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted $4.12 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.72%. Valmont Industries’s dividend payout ratio is currently 16.30%.

Insider Transactions at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of Valmont Industries stock in a transaction on Friday, October 25th. The stock was sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of 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 transaction 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 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 of the company’s stock, valued at $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 sold a total of 41,977 shares of company stock worth $13,950,095 over the last ninety days. Company insiders own 2.00% of the company’s stock.

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.