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

Congress Asset Management Co. grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund 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.’s holdings in Valmont Industries were worth $41,283,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VMI. Northwestern Mutual Wealth Management Co. acquired a new stake in Valmont Industries in the second quarter valued at $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Valmont Industries during the 4th quarter worth about $27,000. Elevation Wealth Partners LLC grew its position in shares of Valmont Industries by 179.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock valued at $39,000 after buying an additional 43 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Valmont Industries in the first quarter valued at about $37,000. Finally, State of Wyoming increased its stake in shares of Valmont Industries by 98.8% in the first quarter. State of Wyoming now owns 169 shares of the industrial products company’s stock valued at $68,000 after buying an additional 84 shares during the period. Institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

VMI has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. Wall Street Zen cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Stifel Nicolaus boosted their target price on shares of 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Stock Performance

Shares of NYSE VMI traded up $11.32 during midday trading on Tuesday, reaching $488.17. The company’s stock had a trading volume of 131,668 shares, compared to its average volume of 196,620. The firm has a 50 day moving average price of $479.59 and a 200-day moving average price of $490.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 12-month low of $378.02 and a 12-month high of $585.71. The stock has a market capitalization of $9.42 billion, a P/E ratio of 19.01, a PEG ratio of 1.09 and a beta of 1.34.

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

Valmont Industries Announces Dividend

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

Insider Activity at Valmont Industries

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

About Valmont Industries

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.