King Luther Capital Management Corp Cuts Stock Position in Valmont Industries, Inc. (NYSE:VMI)

King Luther Capital Management Corp trimmed its position in Valmont Industries, Inc. (NYSE:VMI) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,763 shares of the industrial products company’s stock after selling 1,500 shares during the period. King Luther Capital Management Corp owned approximately 1.89% of Valmont Industries worth $109,532,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of Valmont Industries by 38.8% in the 1st quarter. US Bancorp DE now owns 2,631 shares of the industrial products company’s stock valued at $601,000 after buying an additional 736 shares during the period. Seven Eight Capital LP acquired a new position in shares of Valmont Industries during the 1st quarter worth $636,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Valmont Industries by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,190 shares of the industrial products company’s stock valued at $3,240,000 after purchasing an additional 67 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Valmont Industries during the first quarter worth about $122,000. Finally, Tidal Investments LLC grew its position in Valmont Industries by 8.6% during the first quarter. Tidal Investments LLC now owns 3,186 shares of the industrial products company’s stock worth $727,000 after buying an additional 253 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Trading Up 0.1 %

Shares of VMI stock opened at $339.97 on Thursday. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $352.57. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 23.10 and a beta of 1.02. The firm has a 50-day moving average price of $307.85 and a 200 day moving average price of $284.13. 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 posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $4.12 earnings per share. Valmont Industries’s revenue was down 2.9% on a year-over-year basis. Research analysts forecast that Valmont Industries, Inc. will post 16.86 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.71%. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. DA Davidson upped their target price on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares in the company, valued at $2,963,520. This trade represents a 29.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mogens C. Bay sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the sale, the director now directly owns 154,730 shares of the company’s stock, valued at $48,968,950.40. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,977 shares of company stock valued at $6,971,695 over the last three months. 2.00% of the stock is owned by company insiders.

Valmont Industries 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.