Wedge Capital Management L L P NC Has $3.48 Million Holdings in Valmont Industries, Inc. (NYSE:VMI)

Wedge Capital Management L L P NC trimmed its holdings in Valmont Industries, Inc. (NYSE:VMI) by 28.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,998 shares of the industrial products company’s stock after selling 4,835 shares during the period. Wedge Capital Management L L P NC’s holdings in Valmont Industries were worth $3,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Valmont Industries by 117.4% in the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 54 shares during the period. Mather Group LLC. raised its position in shares of Valmont Industries by 2,060.0% in the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 103 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Valmont Industries in the third quarter valued at about $39,000. Quarry LP lifted its stake in shares of Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after buying an additional 134 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of Valmont Industries during the 2nd quarter worth about $52,000. 87.84% of the stock is currently owned by institutional investors.

Insider Activity at Valmont Industries

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. This trade 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VMI shares. DA Davidson boosted their price objective on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Valmont Industries presently has an average rating of “Buy” and a consensus price target of $332.50.

Valmont Industries Stock Up 0.2 %

NYSE VMI opened at $303.70 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 40.01 and a beta of 1.02. The company has a 50 day moving average of $283.36 and a 200-day moving average of $264.80. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $307.67.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.72. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. On average, equities research analysts expect that Valmont Industries, Inc. will post 16.76 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.79%. Valmont Industries’s dividend payout ratio is 31.62%.

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.