28,229 Valmont Industries, Inc. $VMI Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in Valmont Industries, Inc. (NYSE:VMI) by 8.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 309,609 shares of the industrial products company’s stock after selling 28,229 shares during the period. King Luther Capital Management Corp’s holdings in Valmont Industries were worth $143,343,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VMI. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Valmont Industries in the second quarter worth $28,000. Elevation Wealth Partners LLC grew its position in Valmont Industries by 179.2% during the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock worth $39,000 after buying an additional 43 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Valmont Industries during the third quarter worth about $49,000. Root Financial Partners LLC bought a new position in Valmont Industries in the 3rd quarter worth about $51,000. Finally, State of Wyoming increased 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 worth $68,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on VMI shares. Zacks Research downgraded Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their target price 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. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday. Finally, 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. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Stock Up 0.4%

Shares of NYSE:VMI opened at $425.06 on Thursday. The firm has a market capitalization of $8.14 billion, a PE ratio of 15.78, a price-to-earnings-growth 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. The firm has a fifty day moving average of $456.04 and a 200 day moving average of $476.46.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, beating the consensus estimate of $5.70 by $0.54. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.98 EPS. As a group, research analysts anticipate that Valmont Industries, Inc. will post 23.33 EPS for the current fiscal year.

Valmont Industries Announces Dividend

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

Valmont Industries Profile

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.