JPMorgan Chase & Co. Has $84.93 Million Stake in Valmont Industries, Inc. (NYSE:VMI)

JPMorgan Chase & Co. raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 9.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 292,901 shares of the industrial products company’s stock after purchasing an additional 24,224 shares during the period. JPMorgan Chase & Co. owned approximately 1.46% of Valmont Industries worth $84,927,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Commonwealth Equity Services LLC grew its position in Valmont Industries by 1.4% during the second quarter. Commonwealth Equity Services LLC now owns 5,087 shares of the industrial products company’s stock valued at $1,396,000 after buying an additional 70 shares during the period. Van ECK Associates Corp increased its stake in shares of Valmont Industries by 3.1% during the 2nd quarter. Van ECK Associates Corp now owns 8,209 shares of the industrial products company’s stock worth $2,253,000 after purchasing an additional 248 shares during the last quarter. Norden Group LLC lifted its stake in Valmont Industries by 23.1% in the second quarter. Norden Group LLC now owns 2,897 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 544 shares during the last quarter. Choreo LLC bought a new position in Valmont Industries during the second quarter valued at $220,000. Finally, Texas Permanent School Fund Corp increased its position in Valmont Industries by 6.2% in the second quarter. Texas Permanent School Fund Corp now owns 19,422 shares of the industrial products company’s stock worth $5,330,000 after buying an additional 1,138 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Daas Kaj Den sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now owns 8,644 shares in the company, valued at $2,928,414.32. The trade was a 10.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP R Andrew Massey sold 3,977 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the transaction, the vice president now owns 9,408 shares in the company, valued at $2,963,520. The trade was a 29.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,977 shares of company stock worth $13,950,095. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price objective on Valmont Industries from $360.00 to $382.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. DA Davidson raised their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Trading Down 0.5 %

Shares of Valmont Industries stock opened at $305.16 on Friday. The company’s 50-day moving average price is $329.86 and its 200-day moving average price is $299.37. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 20.73 and a beta of 1.03. Valmont Industries, Inc. has a 12-month low of $202.01 and a 12-month high of $354.13. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 earnings per share. On average, equities analysts expect that Valmont Industries, Inc. will post 16.85 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, December 27th. Valmont Industries’s payout ratio is 16.30%.

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.