Verity Asset Management Inc. Has $1.31 Million Stake in Valmont Industries, Inc. (NYSE:VMI)

Verity Asset Management Inc. decreased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 0.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,524 shares of the industrial products company’s stock after selling 38 shares during the period. Verity Asset Management Inc.’s holdings in Valmont Industries were worth $1,312,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VMI. Dimensional Fund Advisors LP boosted its stake in Valmont Industries by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company’s stock valued at $114,919,000 after purchasing an additional 14,168 shares during the period. Earnest Partners LLC bought a new stake in Valmont Industries during the 2nd quarter valued at approximately $91,878,000. Copeland Capital Management LLC boosted its stake in Valmont Industries by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company’s stock valued at $89,113,000 after purchasing an additional 2,869 shares during the period. Bank of New York Mellon Corp boosted its stake in Valmont Industries by 39.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after purchasing an additional 73,084 shares during the period. Finally, Sei Investments Co. boosted its stake in Valmont Industries by 794.2% during the 2nd quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after purchasing an additional 175,961 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, DA Davidson raised their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Insider Transactions at Valmont Industries

In related news, VP R Andrew Massey sold 3,977 shares of the firm’s 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 directly owns 9,408 shares of the company’s stock, valued at $2,963,520. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP R Andrew Massey sold 3,977 shares of the firm’s 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 directly owns 9,408 shares of the company’s stock, valued at $2,963,520. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mogens C. Bay sold 17,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 154,730 shares of the company’s stock, valued at $48,968,950.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Valmont Industries Trading Down 2.2 %

Shares of VMI opened at $341.58 on Friday. Valmont Industries, Inc. has a 1 year low of $192.94 and a 1 year high of $352.57. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $295.47 and a 200-day simple moving average of $275.88. The stock has a market cap of $6.84 billion, a PE ratio of 23.21 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last issued 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 return on equity of 23.10% and a net margin of 7.38%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm posted $4.12 EPS. Valmont Industries’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Valmont Industries, Inc. will post 16.84 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be issued a $0.60 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.70%. Valmont Industries’s payout ratio is presently 16.30%.

Valmont Industries Company Profile

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.