Valmont Industries, Inc. $VMI Shares Sold by Cornerstone Planning Group LLC

Cornerstone Planning Group LLC trimmed its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 99.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63 shares of the industrial products company’s stock after selling 14,543 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Valmont Industries were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Valmont Industries by 8.3% during the 3rd quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company’s stock worth $164,009,000 after purchasing an additional 32,382 shares in the last quarter. Earnest Partners LLC grew its stake in Valmont Industries by 1.7% during the 3rd quarter. Earnest Partners LLC now owns 399,388 shares of the industrial products company’s stock worth $154,855,000 after purchasing an additional 6,799 shares in the last quarter. Sei Investments Co. grew its stake in Valmont Industries by 3.1% during the 3rd quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company’s stock worth $112,809,000 after purchasing an additional 8,715 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Valmont Industries by 1.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 283,740 shares of the industrial products company’s stock worth $110,015,000 after purchasing an additional 3,379 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Valmont Industries by 118.8% during the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock worth $108,884,000 after purchasing an additional 153,418 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on VMI. DA Davidson boosted their target price on Valmont Industries from $415.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Stifel Nicolaus boosted their target price on Valmont Industries from $497.00 to $541.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Valmont Industries in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their price objective on Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $500.33.

Insider Buying and Selling

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares of the company’s stock, valued at $55,294,213.06. This represents a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Valmont Industries Stock Down 0.5%

VMI opened at $507.99 on Tuesday. The business has a 50 day moving average price of $432.49 and a two-hundred day moving average price of $426.57. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The company has a market cap of $9.86 billion, a PE ratio of 28.21 and a beta of 1.36. Valmont Industries, Inc. has a 52 week low of $299.24 and a 52 week high of $514.02.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating the consensus estimate of $4.72 by $0.79. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.32 EPS. As a group, research analysts anticipate that Valmont Industries, Inc. will post 22.93 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries’s dividend payout ratio is currently 17.10%.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.