Sonen Capital LLC cut its position in Valmont Industries, Inc. (NYSE:VMI – Get Rating) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,093 shares of the industrial products company’s stock after selling 53 shares during the period. Sonen Capital LLC’s holdings in Valmont Industries were worth $261,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in VMI. CWM LLC acquired a new stake in shares of Valmont Industries in the 4th quarter valued at about $26,000. Quadrant Capital Group LLC grew its stake in shares of Valmont Industries by 69.6% in the 1st quarter. Quadrant Capital Group LLC now owns 117 shares of the industrial products company’s stock valued at $28,000 after buying an additional 48 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Valmont Industries in the 4th quarter valued at about $50,000. Van ECK Associates Corp acquired a new position in Valmont Industries during the 4th quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in Valmont Industries during the 4th quarter valued at about $166,000. 87.29% of the stock is currently owned by institutional investors and hedge funds.
Valmont Industries Stock Performance
Shares of NYSE:VMI traded up $1.02 during mid-day trading on Friday, reaching $271.82. The company had a trading volume of 82,175 shares, compared to its average volume of 98,793. The company has a current ratio of 2.23, a quick ratio of 1.29 and a debt-to-equity ratio of 0.64. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.63 and a beta of 1.14. The company’s 50-day moving average price is $241.03 and its 200-day moving average price is $236.93. Valmont Industries, Inc. has a one year low of $203.30 and a one year high of $277.00.
Valmont Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.81%. Valmont Industries’s dividend payout ratio (DPR) is currently 21.83%.
In other news, CEO Stephen G. Kaniewski sold 12,076 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $269.41, for a total transaction of $3,253,395.16. Following the completion of the transaction, the chief executive officer now directly owns 43,844 shares in the company, valued at approximately $11,812,012.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Stephen G. Kaniewski sold 12,076 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $269.41, for a total value of $3,253,395.16. Following the completion of the transaction, the chief executive officer now directly owns 43,844 shares in the company, valued at $11,812,012.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy P. Francis sold 2,239 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $257.56, for a total transaction of $576,676.84. Following the sale, the senior vice president now owns 6,918 shares of the company’s stock, valued at $1,781,800.08. The disclosure for this sale can be found here. Insiders sold 31,855 shares of company stock worth $8,193,673 in the last three months. Corporate insiders own 2.00% of the company’s stock.
Wall Street Analyst Weigh In
VMI has been the subject of a number of analyst reports. Roth Capital initiated coverage on Valmont Industries in a research note on Friday, June 3rd. They set a “buy” rating and a $297.00 price target for the company. Stifel Nicolaus cut their price target on Valmont Industries from $300.00 to $267.00 in a research note on Monday, July 18th. TheStreet downgraded Valmont Industries from a “b” rating to a “c+” rating in a research note on Wednesday, July 13th. DA Davidson boosted their target price on Valmont Industries from $235.00 to $260.00 in a research note on Friday, April 22nd. Finally, Northcoast Research began coverage on Valmont Industries in a research note on Friday, July 15th. They issued a “buy” rating and a $300.00 target price on the stock.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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