Valmont Industries, Inc. $VMI Shares Sold by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC trimmed its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 58.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,375 shares of the industrial products company's stock after selling 14,341 shares during the quarter. WealthPlan Investment Management LLC owned about 0.05% of Valmont Industries worth $4,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Valmont Industries in the second quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Valmont Industries in the fourth quarter worth $27,000. Elevation Wealth Partners LLC increased its stake in shares of Valmont Industries by 179.2% in the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company's stock worth $39,000 after purchasing an additional 43 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Valmont Industries in the first quarter worth $37,000. Finally, State of Wyoming raised its position in shares of Valmont Industries by 98.8% during the 1st quarter. State of Wyoming now owns 169 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 84 shares during the period. Institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

VMI has been the topic of a number of analyst reports. Zacks Research cut shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen lowered Valmont Industries from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. JPMorgan Chase & Co. raised their price target on Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, July 22nd. Weiss Ratings raised Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Stifel Nicolaus boosted their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $587.00.

Insider Activity

In other news, CFO John L. Schwietz purchased 208 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average cost of $486.14 per share, with a total value of $101,117.12. Following the completion of the purchase, the chief financial officer owned 2,992 shares in the company, valued at approximately $1,454,530.88. This represents a 7.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Theodor Freye sold 800 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the transaction, the director directly owned 2,805 shares of the company's stock, valued at approximately $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.42% of the company's stock.

Valmont Industries Price Performance

Shares of VMI stock traded down $11.81 during mid-day trading on Thursday, hitting $453.52. The company had a trading volume of 89,092 shares, compared to its average volume of 195,217. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. The stock's 50 day moving average price is $477.75 and its 200-day moving average price is $494.34. Valmont Industries, Inc. has a 52-week low of $378.02 and a 52-week high of $585.71. The company has a market capitalization of $8.76 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.08 and a beta of 1.34.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.34. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. Valmont Industries's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.88 earnings per share. Equities research analysts forecast that Valmont Industries, Inc. will post 23.03 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries's payout ratio is 11.99%.

Valmont Industries Company Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services that support infrastructure, agriculture and industrial applications. Founded in 1946 and headquartered in Omaha, Nebraska, the company serves customers in North America and international markets.

Its infrastructure businesses produce utility poles and structures, towers, steel and aluminum structures, lighting and traffic-support systems, and other products used in electrical transmission and distribution, telecommunications, transportation and commercial development.

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