JPMorgan Chase & Co. Grows Stock Position in Valmont Industries, Inc. (NYSE:VMI)

JPMorgan Chase & Co. boosted its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,901 shares of the industrial products company’s stock after acquiring an additional 24,224 shares during the quarter. JPMorgan Chase & Co.’s holdings in Valmont Industries were worth $84,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp boosted its stake in shares of Valmont Industries by 1.1% during the third quarter. State Street Corp now owns 640,876 shares of the industrial products company’s stock valued at $186,204,000 after purchasing an additional 6,913 shares during the period. Dimensional Fund Advisors LP grew its holdings in Valmont Industries by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company’s stock worth $114,919,000 after acquiring an additional 14,168 shares during the last quarter. Franklin Resources Inc. grew its holdings in Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after acquiring an additional 148,811 shares during the last quarter. FMR LLC raised its stake in shares of Valmont Industries by 4.0% during the third quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock valued at $101,316,000 after acquiring an additional 13,509 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Valmont Industries by 1.5% during the third quarter. Geode Capital Management LLC now owns 335,926 shares of the industrial products company’s stock worth $97,428,000 after purchasing an additional 4,940 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the transaction, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP R Andrew Massey sold 3,977 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $315.00, for a total value of $1,252,755.00. Following the transaction, the vice president now owns 9,408 shares of the company’s stock, valued at $2,963,520. The trade was a 29.71 % 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 three months. 2.00% of the stock is currently owned by company insiders.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $305.16 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $354.13. The company’s 50-day moving average is $329.86 and its 200 day moving average is $299.37. The stock has a market capitalization of $6.11 billion, a P/E ratio of 20.73 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $4.12 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VMI. Stifel Nicolaus boosted their price target 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 boosted their target price on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

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.