King Luther Capital Management Corp lessened its position in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 377,763 shares of the industrial products company’s stock after selling 1,500 shares during the quarter. King Luther Capital Management Corp’s holdings in Valmont Industries were worth $109,532,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 54 shares during the period. Mather Group LLC. raised its stake in Valmont Industries by 2,060.0% during the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 103 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Valmont Industries during the 3rd quarter valued at $39,000. Quarry LP boosted its position in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 134 shares during the period. Finally, Versant Capital Management Inc bought a new position in shares of Valmont Industries in the second quarter worth $52,000. 87.84% of the stock is currently owned by institutional investors.
Valmont Industries Trading Up 0.1 %
Shares of Valmont Industries stock opened at $339.97 on Thursday. The business has a fifty day simple moving average of $307.85 and a 200-day simple moving average of $284.13. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $352.57. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 23.10 and a beta of 1.02. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58.
Valmont Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 27th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is currently 16.30%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on VMI shares. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson increased their price objective on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 24th.
Read Our Latest Research Report on VMI
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 of the company’s stock, valued at approximately $2,928,414.32. The trade was a 10.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction on Friday, October 25th. The shares were sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the completion of the sale, the director now directly owns 154,730 shares of the company’s stock, valued at approximately $48,968,950.40. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,977 shares of company stock valued at $6,971,695. Corporate insiders own 2.00% of the company’s stock.
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.
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