King Luther Capital Management Corp Sells 28,229 Shares of Valmont Industries, Inc. $VMI

King Luther Capital Management Corp decreased its position in Valmont Industries, Inc. (NYSE:VMI) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 309,609 shares of the industrial products company’s stock after selling 28,229 shares during the period. King Luther Capital Management Corp owned about 1.62% of Valmont Industries worth $143,343,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Valmont Industries during the 2nd quarter worth $28,000. Elevation Wealth Partners LLC increased its holdings in Valmont Industries by 179.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 43 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Valmont Industries in the 3rd quarter worth about $49,000. Root Financial Partners LLC bought a new stake in Valmont Industries in the 3rd quarter valued at about $51,000. Finally, State of Wyoming raised its stake in Valmont Industries by 98.8% in the 1st quarter. State of Wyoming now owns 169 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 84 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on VMI. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings cut shares of Valmont Industries from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Stock Performance

NYSE:VMI opened at $425.06 on Thursday. The business’s fifty day moving average is $456.04 and its 200 day moving average is $476.46. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 0.96 and a beta of 1.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.56 and a current ratio of 2.41. Valmont Industries, Inc. has a 52-week low of $378.02 and a 52-week high of $585.71.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, topping the consensus estimate of $5.70 by $0.54. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.98 EPS. Research analysts predict that Valmont Industries, Inc. will post 23.33 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 24th. Valmont Industries’s dividend payout ratio is presently 11.43%.

About Valmont Industries

Valmont Industries designs and manufactures products used in infrastructure and agriculture. Founded in 1946, the company has grown from a maker of steel irrigation equipment into a global provider of engineered products and services. Its infrastructure business supplies utility structures, poles and towers, lighting and traffic products, telecommunications structures, and protective coatings. These products support electric power, transportation, communications, and other infrastructure markets.