Covea Finance Boosts Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Covea Finance increased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 29.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,200 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the quarter. Covea Finance owned approximately 0.08% of Valmont Industries worth $4,661,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Valmont Industries by 93,000.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,862 shares of the industrial products company’s stock valued at $571,000 after acquiring an additional 1,860 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Valmont Industries during the 4th quarter valued at about $528,000. CHICAGO TRUST Co NA acquired a new stake in Valmont Industries during the fourth quarter worth about $205,000. Nordea Investment Management AB raised its stake in 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 purchasing an additional 2,521 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Valmont Industries by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock valued at $84,927,000 after buying an additional 24,224 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Stock Up 2.0 %

Shares of NYSE VMI opened at $313.22 on Wednesday. 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’s 50 day moving average is $328.30 and its two-hundred day moving average is $301.37. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $354.13. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 21.28 and a beta of 1.05.

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. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $4.12 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts predict that Valmont Industries, Inc. will post 16.85 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is currently 16.30%.

Insider Buying and Selling

In related news, Director Daas Kaj Den sold 1,000 shares of the business’s 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 transaction, the director now directly owns 8,644 shares of the company’s stock, valued at $2,928,414.32. The trade was a 10.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP R Andrew Massey sold 3,977 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the sale, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This represents a 29.71 % decrease in their position. 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 ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. 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.

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.