Geode Capital Management LLC Purchases 4,940 Shares of Valmont Industries, Inc. (NYSE:VMI)

Geode Capital Management LLC raised its position in Valmont Industries, Inc. (NYSE:VMI) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 335,926 shares of the industrial products company’s stock after acquiring an additional 4,940 shares during the quarter. Geode Capital Management LLC’s holdings in Valmont Industries were worth $97,428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Valmont Industries by 12.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 279 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 31 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Valmont Industries by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock valued at $674,000 after buying an additional 35 shares during the last quarter. Huntington National Bank boosted its holdings in Valmont Industries by 16.5% in the third quarter. Huntington National Bank now owns 247 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 35 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Valmont Industries by 3.1% during the third quarter. UMB Bank n.a. now owns 1,303 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 39 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Valmont Industries by 2.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,717 shares of the industrial products company’s stock valued at $470,000 after acquiring an additional 42 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Stock Performance

VMI opened at $311.95 on Thursday. The stock has a market cap of $6.25 billion, a P/E ratio of 21.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. The firm has a fifty day moving average price of $329.55 and a 200 day moving average price of $295.95. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $354.13.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Valmont Industries, Inc. will post 16.85 earnings per share for the current year.

Valmont Industries Dividend Announcement

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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Wall Street Analyst Weigh In

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

Insider Transactions at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of the firm’s stock in a transaction dated 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 directly owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This trade represents a 29.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daas Kaj Den sold 1,000 shares of Valmont Industries stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares in the company, valued at approximately $2,928,414.32. The trade was a 10.37 % 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 valued at $13,950,095 in the last three months. 1.90% of the stock is currently owned by company insiders.

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.