Point72 Asset Management L.P. Makes New $58,000 Investment in Valmont Industries, Inc. (NYSE:VMI)

Point72 Asset Management L.P. acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) in the 3rd quarter, Holdings Channel reports. The fund acquired 200 shares of the industrial products company’s stock, valued at approximately $58,000.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Valmont Industries in the third quarter valued at $39,000. Quarry LP boosted its stake in Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after buying an additional 134 shares in the last quarter. Signaturefd LLC grew its holdings in Valmont Industries by 35.4% during the third quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 56 shares during the period. Finally, Hanseatic Management Services Inc. acquired a new position in Valmont Industries during the third quarter worth about $66,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling at Valmont Industries

In related news, Director Daas Kaj Den sold 1,000 shares of Valmont Industries stock in a transaction on Monday, November 18th. The stock was sold at an average price of $338.78, for a total transaction of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares of the company’s stock, valued at approximately $2,928,414.32. This trade represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mogens C. Bay sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the transaction, the director now directly owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,977 shares of company stock valued at $13,950,095 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on VMI. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a research report on Wednesday. DA Davidson raised their target price 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.

Valmont Industries Stock Performance

Valmont Industries stock opened at $327.29 on Friday. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $354.13. The firm’s 50 day simple moving average is $327.72 and its 200-day simple moving average is $294.14. 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 company has a market cap of $6.56 billion, a P/E ratio of 22.23 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.12 EPS. As a group, equities research analysts predict that Valmont Industries, Inc. will post 16.85 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be given 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 0.73%. Valmont Industries’s payout ratio is presently 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.