Valmont Industries, Inc. (NYSE:VMI) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,193 shares of the industrial products company's stock after buying an additional 8,330 shares during the period. Congress Asset Management Co. owned 0.28% of Valmont Industries worth $17,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of VMI. Sunbelt Securities Inc. purchased a new stake in Valmont Industries during the 3rd quarter worth about $35,000. Exchange Traded Concepts LLC purchased a new stake in shares of Valmont Industries in the 3rd quarter valued at about $39,000. Point72 Asset Management L.P. purchased a new stake in shares of Valmont Industries in the 3rd quarter valued at about $58,000. Signaturefd LLC lifted its holdings in shares of Valmont Industries by 35.4% in the 3rd quarter. Signaturefd LLC now owns 214 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 56 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of Valmont Industries by 35.9% in the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock valued at $65,000 after purchasing an additional 56 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on VMI shares. StockNews.com downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Stifel Nicolaus upped their price objective on Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, DA Davidson downgraded Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a research note on Wednesday.

Valmont Industries Stock Performance

VMI traded down $10.10 on Wednesday, hitting $366.88. 299,916 shares of the company traded hands, compared to its average volume of 121,072. The company has a 50 day moving average of $323.00 and a 200-day moving average of $311.36. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $7.35 billion, a PE ratio of 24.92 and a beta of 1.05. Valmont Industries, Inc. has a 12-month low of $202.01 and a 12-month high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.63 by $0.21. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $3.18 EPS. Sell-side analysts anticipate that Valmont Industries, Inc. will post 16.88 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. This is a boost from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.72 annualized dividend and a yield of 0.74%. Valmont Industries's payout ratio is presently 16.30%.

Insiders Place Their Bets

In related news, Director Mogens C. Bay sold 20,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total value of $6,978,400.00. Following the sale, the director now owns 131,730 shares in the company, valued at $45,963,231.60. This represents a 13.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

About Valmont Industries

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.