Verity Asset Management Inc. Sells 68 Shares of Valmont Industries, Inc. (NYSE:VMI)

Verity Asset Management Inc. decreased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,456 shares of the industrial products company’s stock after selling 68 shares during the quarter. Verity Asset Management Inc.’s holdings in Valmont Industries were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VMI. State Street Corp lifted its holdings in shares of Valmont Industries by 1.1% during the 3rd quarter. State Street Corp now owns 640,876 shares of the industrial products company’s stock valued at $186,204,000 after buying an additional 6,913 shares during the period. Franklin Resources Inc. lifted its stake in shares of Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after purchasing an additional 148,811 shares during the period. FMR LLC boosted its holdings in shares of Valmont Industries by 4.0% in the third quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock worth $101,316,000 after buying an additional 13,509 shares during the last quarter. Geode Capital Management LLC grew its position in Valmont Industries by 1.5% during the third quarter. Geode Capital Management LLC now owns 335,926 shares of the industrial products company’s stock valued at $97,428,000 after buying an additional 4,940 shares during the period. Finally, Copeland Capital Management LLC increased its holdings in Valmont Industries by 0.9% during the third quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company’s stock valued at $89,113,000 after buying an additional 2,869 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the sale, the director now directly owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director now owns 8,644 shares in the company, valued at approximately $2,928,414.32. The trade was a 10.37 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on VMI. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $382.00 to $387.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. DA Davidson boosted their price target on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Stock Performance

VMI opened at $324.51 on Tuesday. The firm has a market cap of $6.50 billion, a P/E ratio of 22.05 and a beta of 1.05. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $354.13. The company has a 50 day simple moving average of $325.70 and a two-hundred day simple moving average of $307.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55.

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.