King Luther Capital Management Corp Has $106.89 Million Position in Valmont Industries, Inc. (NYSE:VMI)

King Luther Capital Management Corp reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 374,582 shares of the industrial products company’s stock after selling 3,931 shares during the quarter. King Luther Capital Management Corp’s holdings in Valmont Industries were worth $106,894,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VMI. LPL Financial LLC raised its stake in Valmont Industries by 37.8% during the 4th quarter. LPL Financial LLC now owns 3,999 shares of the industrial products company’s stock valued at $1,226,000 after purchasing an additional 1,098 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Valmont Industries by 44.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,206 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 370 shares during the period. Wells Fargo & Company MN raised its stake in Valmont Industries by 5.9% during the 4th quarter. Wells Fargo & Company MN now owns 8,577 shares of the industrial products company’s stock valued at $2,630,000 after purchasing an additional 481 shares during the period. Federated Hermes Inc. raised its stake in Valmont Industries by 23.4% during the 4th quarter. Federated Hermes Inc. now owns 2,413 shares of the industrial products company’s stock valued at $740,000 after purchasing an additional 458 shares during the period. Finally, Bank of Nova Scotia raised its stake in Valmont Industries by 42.0% during the 4th quarter. Bank of Nova Scotia now owns 12,200 shares of the industrial products company’s stock valued at $3,741,000 after purchasing an additional 3,608 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Trading Up 0.1%

Valmont Industries stock opened at $368.50 on Friday. The stock has a market cap of $7.27 billion, a P/E ratio of 34.31 and a beta of 1.12. Valmont Industries, Inc. has a 12 month low of $250.07 and a 12 month high of $379.22. The company’s fifty day simple moving average is $338.57 and its 200-day simple moving average is $321.83. The company has a quick ratio of 1.44, a current ratio of 2.15 and a debt-to-equity ratio of 0.48.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 EPS for the quarter, topping the consensus estimate of $4.78 by $0.10. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.91 earnings per share. As a group, sell-side analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Valmont Industries’s dividend payout ratio is presently 25.33%.

Analysts Set New Price Targets

VMI has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of Valmont Industries from $380.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Stifel Nicolaus boosted their price target on shares of Valmont Industries from $345.00 to $382.00 and gave the company a “buy” rating in a report on Monday, July 21st. Wall Street Zen cut shares of Valmont Industries from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, William Blair upgraded shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd.

Insider Buying and Selling

In other Valmont Industries news, CAO Timothy P. Francis sold 2,867 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $358.52, for a total transaction of $1,027,876.84. Following the transaction, the chief accounting officer directly owned 9,746 shares of the company’s stock, valued at $3,494,135.92. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

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.