Quantbot Technologies LP acquired a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,562 shares of the industrial products company’s stock, valued at approximately $493,000.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Valmont Industries by 1.6% during the 2nd quarter. BlackRock Inc. now owns 1,906,460 shares of the industrial products company’s stock worth $287,400,000 after buying an additional 29,191 shares during the period. Royce & Associates LP grew its position in shares of Valmont Industries by 1.7% during the 2nd quarter. Royce & Associates LP now owns 691,958 shares of the industrial products company’s stock worth $104,313,000 after buying an additional 11,300 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Valmont Industries by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 583,093 shares of the industrial products company’s stock worth $87,901,000 after buying an additional 28,657 shares during the period. FMR LLC grew its position in Valmont Industries by 3.1% in the 2nd quarter. FMR LLC now owns 307,020 shares of the industrial products company’s stock valued at $46,283,000 after purchasing an additional 9,220 shares during the period. Finally, Janus Henderson Group PLC grew its position in Valmont Industries by 13.7% in the 3rd quarter. Janus Henderson Group PLC now owns 293,202 shares of the industrial products company’s stock valued at $40,608,000 after purchasing an additional 35,422 shares during the period. 87.69% of the stock is owned by institutional investors.
NYSE VMI opened at $117.58 on Friday. Valmont Industries, Inc. has a 12-month low of $111.83 and a 12-month high of $171.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.40 and a quick ratio of 2.40. The firm has a market capitalization of $2.76 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07.
Valmont Industries declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 31st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 28th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, December 27th. Valmont Industries’s payout ratio is currently 21.52%.
In related news, SVP John A. Kehoe sold 3,059 shares of Valmont Industries stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $137.50, for a total value of $420,612.50. Following the completion of the sale, the senior vice president now owns 2,911 shares of the company’s stock, valued at approximately $400,262.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.
VMI has been the subject of several research reports. TheStreet downgraded shares of Valmont Industries from a “b-” rating to a “c+” rating in a research report on Thursday, October 4th. Zacks Investment Research raised shares of Valmont Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Valmont Industries in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $173.33.
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About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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