Chesapeake Capital Corp IL Lowers Stock Position in Valmont Industries, Inc. (NYSE:VMI)

by · The Markets Daily

Chesapeake Capital Corp IL lessened its holdings in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,691 shares of the industrial products company’s stock after selling 114 shares during the period. Chesapeake Capital Corp IL’s holdings in Valmont Industries were worth $778,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Valmont Industries by 117.4% in the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 54 shares during the period. Mather Group LLC. lifted its position in shares of Valmont Industries by 2,060.0% in the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 103 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Valmont Industries in the 3rd quarter worth approximately $39,000. Quarry LP lifted its position in shares of Valmont Industries by 268.0% in the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 134 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in shares of Valmont Industries in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VMI shares. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, DA Davidson increased their target price 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.

View Our Latest Research Report on Valmont Industries

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the transaction, the director now owns 154,730 shares in the company, valued at approximately $48,968,950.40. This represents a 9.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP R Andrew Massey sold 3,977 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares in the company, valued at $2,963,520. The trade was a 29.71 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Valmont Industries Trading Down 0.6 %

NYSE:VMI opened at $338.02 on Friday. Valmont Industries, Inc. has a 52 week low of $202.01 and a 52 week high of $352.57. The firm has a 50 day moving average of $303.51 and a 200 day moving average of $281.88. 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 capitalization of $6.77 billion, a price-to-earnings ratio of 22.96 and a beta of 1.02.

Valmont Industries (NYSE:VMI – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating 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 company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the company posted $4.12 earnings per share. Valmont Industries’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.71%. Valmont Industries’s payout ratio is 16.30%.

Valmont Industries Company Profile

(Free Report)

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.

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