Congress Asset Management Co. Buys 4,019 Shares of Valmont Industries, Inc. $VMI

Key Points

• Congress Asset Management Co. increased its stake in Valmont Industries, Inc. by 6.5%, acquiring an additional 4,019 shares, bringing its total ownership to 66,064 shares valued at about $21.57 million.
• Numerous hedge funds have also enhanced their positions in Valmont Industries, with significant increases including Covea Finance, which boosted its stake by 30.1%.
• Valmont Industries recently declared a quarterly dividend of $0.68, to be paid on October 15th, representing an annualized yield of 0.7%.

Congress Asset Management Co. raised its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,064 shares of the industrial products company's stock after buying an additional 4,019 shares during the period. Congress Asset Management Co. owned about 0.33% of Valmont Industries worth $21,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Perigon Wealth Management LLC increased its stake in Valmont Industries by 7.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 1,722 shares of the industrial products company's stock valued at $562,000 after purchasing an additional 121 shares in the last quarter. Covea Finance boosted its position in Valmont Industries by 30.1% during the second quarter. Covea Finance now owns 18,600 shares of the industrial products company's stock worth $6,074,000 after purchasing an additional 4,300 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new stake in Valmont Industries in the 2nd quarter valued at $1,714,000. Caitlin John LLC purchased a new stake in shares of Valmont Industries during the second quarter worth about $1,070,000. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Valmont Industries by 14,300.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,016 shares of the industrial products company's stock worth $658,000 after purchasing an additional 2,002 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VMI has been the subject of a number of recent research reports. JPMorgan Chase & Co. started coverage on shares of Valmont Industries in a report on Friday. They issued an "overweight" rating and a $480.00 price objective for the company. Wall Street Zen downgraded Valmont Industries from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Stifel Nicolaus upped their price target on Valmont Industries from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, DA Davidson lifted their price target on Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $420.67.

Valmont Industries Stock Performance

Shares of VMI opened at $385.54 on Friday. Valmont Industries, Inc. has a 1 year low of $250.07 and a 1 year high of $388.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.44 and a current ratio of 2.15. The company's fifty day moving average is $369.99 and its two-hundred day moving average is $331.25. The stock has a market capitalization of $7.61 billion, a P/E ratio of 35.90 and a beta of 1.14.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.10. Valmont Industries had a return on equity of 22.10% and a net margin of 5.98%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $4.91 earnings per share. Valmont Industries's revenue was up 1.0% compared to the same quarter last year. Valmont Industries has set its FY 2025 guidance at 17.500-19.500 EPS. On average, sell-side analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, September 26th. Valmont Industries's dividend payout ratio is currently 25.33%.

Insider Activity at Valmont Industries

In other news, CAO Timothy P. Francis sold 2,867 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $358.52, for a total transaction of $1,027,876.84. Following the completion of the sale, the chief accounting officer owned 9,746 shares of the company's stock, valued at approximately $3,494,135.92. This trade represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% 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.

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