Valmont Industries, Inc. $VMI Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,169 shares of the industrial products company’s stock after purchasing an additional 2,026 shares during the period. Congress Asset Management Co. owned about 0.46% of Valmont Industries worth $41,283,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Valmont Industries in the second quarter valued at approximately $1,141,369,000. Bank of America Corp DE bought a new position in Valmont Industries during the 2nd quarter worth $175,408,000. Vaughan Nelson Investment Management L.P. increased its stake in Valmont Industries by 3.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock worth $100,933,000 after acquiring an additional 9,130 shares during the period. Bank of New York Mellon Corp acquired a new position in Valmont Industries in the 2nd quarter valued at $83,723,000. Finally, Jupiter Topco LLC acquired a new position in Valmont Industries in the 2nd quarter valued at $75,308,000. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Valmont Industries Price Performance

Shares of VMI stock traded up $11.32 on Tuesday, reaching $488.17. The company had a trading volume of 131,668 shares, compared to its average volume of 196,620. The stock has a market capitalization of $9.42 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.09 and a beta of 1.34. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. Valmont Industries, Inc. has a one year low of $378.02 and a one year high of $585.71. The business’s 50-day moving average is $479.59 and its 200 day moving average is $490.82.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.34. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.88 EPS. Equities research analysts forecast that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s payout ratio is presently 11.99%.

Wall Street Analysts Forecast Growth

VMI has been the topic of several analyst reports. Weiss Ratings lowered Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $587.00.

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.