Harbor Capital Advisors Inc. trimmed its stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 20.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,813 shares of the industrial products company’s stock after selling 1,483 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Valmont Industries were worth $1,783,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of VMI. Nordea Investment Management AB boosted its position in shares of Valmont Industries by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 17,421 shares of the industrial products company’s stock worth $5,326,000 after buying an additional 2,521 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Valmont Industries by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock valued at $84,927,000 after purchasing an additional 24,224 shares during the period. Franklin Resources Inc. raised its stake in shares of Valmont Industries by 57.6% during the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock valued at $123,512,000 after purchasing an additional 148,811 shares in the last quarter. Synovus Financial Corp grew its position in Valmont Industries by 65.7% in the 3rd quarter. Synovus Financial Corp now owns 3,837 shares of the industrial products company’s stock valued at $1,113,000 after buying an additional 1,522 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Valmont Industries by 12.2% during the 3rd quarter. Tidal Investments LLC now owns 5,809 shares of the industrial products company’s stock valued at $1,684,000 after buying an additional 633 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.
Insiders Place Their Bets
In other news, Director Daas Kaj Den sold 1,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now directly owns 8,644 shares of the company’s stock, valued at approximately $2,928,414.32. This represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mogens C. Bay sold 20,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the sale, the director now owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,977 shares of company stock valued at $13,950,095 over the last quarter. Insiders own 2.00% of the company’s stock.
Analyst Upgrades and Downgrades
VMI has been the topic of a number of research analyst reports. DA Davidson raised their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target on Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th.
Read Our Latest Research Report on VMI
Valmont Industries Stock Performance
Shares of Valmont Industries stock opened at $302.51 on Monday. The stock has a market cap of $6.06 billion, a PE ratio of 20.55 and a beta of 1.05. Valmont Industries, Inc. has a 12 month low of $202.01 and a 12 month high of $354.13. 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 business has a fifty day simple moving average of $328.56 and a 200-day simple moving average of $301.14.
Valmont Industries (NYSE:VMI – Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 16.85 EPS for the current fiscal year.
Valmont Industries Dividend Announcement
The firm also recently announced 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. This represents a $2.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s payout ratio is 16.30%.
About Valmont Industries
(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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