Geode Capital Management LLC Sells 205 Shares of Valmont Industries, Inc. (NYSE:VMI)

Geode Capital Management LLC trimmed its stake in Valmont Industries, Inc. (NYSE:VMI) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 335,721 shares of the industrial products company’s stock after selling 205 shares during the period. Geode Capital Management LLC owned approximately 1.68% of Valmont Industries worth $102,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VMI. Sunbelt Securities Inc. bought a new stake in shares of Valmont Industries during the 3rd quarter worth approximately $35,000. Point72 Asset Management L.P. purchased a new position in Valmont Industries during the 3rd quarter worth $58,000. Avior Wealth Management LLC increased its holdings in Valmont Industries by 35.9% during the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust increased its holdings in Valmont Industries by 16.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 36 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Valmont Industries by 83.4% during the 4th quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 141 shares during the period. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Up 7.6 %

Shares of VMI stock opened at $284.85 on Thursday. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $379.22. The stock’s fifty day moving average price is $317.98 and its 200 day moving average price is $319.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 16.58 and a beta of 1.07.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $3.18 EPS. On average, research analysts expect that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.95%. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s payout ratio is currently 15.83%.

Analysts Set New Price Targets

Several research firms have commented on VMI. Stifel Nicolaus raised their price objective on Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. StockNews.com downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. DA Davidson downgraded Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Wednesday, February 19th. Finally, William Blair downgraded Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st.

Valmont Industries 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.