Congress Asset Management Co. Acquires 6,718 Shares of Valmont Industries, Inc. (NYSE:VMI)

Congress Asset Management Co. boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 16.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,863 shares of the industrial products company's stock after buying an additional 6,718 shares during the period. Congress Asset Management Co. owned approximately 0.24% of Valmont Industries worth $13,878,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VMI. Dimensional Fund Advisors LP boosted its position in shares of Valmont Industries by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company's stock valued at $114,919,000 after buying an additional 14,168 shares during the last quarter. Earnest Partners LLC purchased a new position in Valmont Industries during the 2nd quarter worth $91,878,000. Copeland Capital Management LLC grew its stake in shares of Valmont Industries by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company's stock worth $89,113,000 after acquiring an additional 2,869 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Valmont Industries by 39.3% in the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company's stock valued at $71,040,000 after purchasing an additional 73,084 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Valmont Industries by 794.2% during the second quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company's stock valued at $54,373,000 after purchasing an additional 175,961 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VMI. Stifel Nicolaus boosted their target price on Valmont Industries from $350.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. DA Davidson boosted their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, StockNews.com raised Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 12th.

Valmont Industries Stock Performance

Shares of VMI stock traded up $4.23 during trading hours on Friday, hitting $315.91. 91,144 shares of the company were exchanged, compared to its average volume of 156,231. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 21.46 and a beta of 1.02. The firm has a fifty day simple moving average of $291.50 and a 200 day simple moving average of $272.49. Valmont Industries, Inc. has a 52-week low of $192.94 and a 52-week high of $330.97.

Valmont Industries (NYSE:VMI - Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $4.12 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts predict that Valmont Industries, Inc. will post 16.84 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.76%. Valmont Industries's dividend payout ratio is presently 16.30%.

Insiders Place Their Bets

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the sale, the vice president now owns 9,408 shares of the company's stock, valued at $2,963,520. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Mogens C. Bay sold 17,000 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $316.48, for a total value of $5,380,160.00. Following the completion of the transaction, the director now directly owns 154,730 shares in the company, valued at approximately $48,968,950.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP R Andrew Massey sold 3,977 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the sale, the vice president now directly owns 9,408 shares in the company, valued at $2,963,520. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Valmont Industries Profile

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.