Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL lowered its holdings in Valmont Industries, Inc. (NYSE:VMI) by 4.1% during the third quarter, Holdings Channel reports. The fund owned 2,691 shares of the industrial products company’s stock after selling 114 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Valmont Industries were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in VMI. GAMMA Investing LLC boosted its holdings in Valmont Industries by 117.4% during the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 54 shares in the last quarter. Mather Group LLC. boosted its holdings in Valmont Industries by 2,060.0% during the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after buying an additional 103 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Valmont Industries during the third quarter worth $39,000. Quarry LP boosted its holdings in Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after buying an additional 134 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new stake in Valmont Industries during the second quarter worth $52,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Valmont Industries

In other news, Director Mogens C. Bay sold 17,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $316.48, for a total value of $5,380,160.00. Following the transaction, the director now directly owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. This trade represents a 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP R Andrew Massey sold 3,977 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 9,408 shares in the company, valued at approximately $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VMI. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. DA Davidson increased their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Stock Performance

VMI opened at $338.02 on Friday. 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 company has a market cap of $6.77 billion, a price-to-earnings ratio of 22.96 and a beta of 1.02. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $352.57. The firm’s fifty day simple moving average is $303.51 and its two-hundred day simple moving average is $281.88.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $4.12 earnings per share. Equities analysts anticipate that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

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

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.