Congress Asset Management Co. MA Raises Holdings in Valmont Industries, Inc. (NYSE:VMI)

Congress Asset Management Co. MA lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,102 shares of the industrial products company’s stock after buying an additional 10,659 shares during the period. Congress Asset Management Co. MA owned about 0.65% of Valmont Industries worth $30,614,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new position in Valmont Industries in the 4th quarter valued at approximately $49,526,000. Vaughan Nelson Investment Management L.P. purchased a new position in Valmont Industries in the 4th quarter valued at approximately $22,332,000. Copeland Capital Management LLC increased its stake in Valmont Industries by 36.9% in the 4th quarter. Copeland Capital Management LLC now owns 295,350 shares of the industrial products company’s stock valued at $68,967,000 after purchasing an additional 79,647 shares in the last quarter. FMR LLC increased its stake in Valmont Industries by 140.8% in the 3rd quarter. FMR LLC now owns 133,109 shares of the industrial products company’s stock valued at $31,974,000 after purchasing an additional 77,839 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Valmont Industries by 96.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 130,359 shares of the industrial products company’s stock valued at $31,314,000 after purchasing an additional 63,969 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

NYSE:VMI traded down $0.46 during trading hours on Friday, reaching $272.50. 241,677 shares of the company traded hands, compared to its average volume of 159,326. The firm’s 50-day moving average is $240.88 and its 200-day moving average is $230.17. The stock has a market cap of $5.50 billion, a P/E ratio of 35.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $303.57.

Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.08. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The firm had revenue of $977.83 million for the quarter, compared to analysts’ expectations of $986.98 million. During the same quarter in the prior year, the firm earned $3.54 EPS. Valmont Industries’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that Valmont Industries, Inc. will post 15.94 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.

Analyst Ratings Changes

Several equities analysts recently weighed in on VMI shares. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a research note on Monday, June 10th. Stifel Nicolaus reiterated a “buy” rating and set a $249.00 target price on shares of Valmont Industries in a report on Monday, March 25th. Finally, DA Davidson lowered their target price on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.00.

Valmont Industries Company 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.