Congress Asset Management Co. boosted its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 10.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,045 shares of the industrial products company's stock after purchasing an additional 5,852 shares during the period. Congress Asset Management Co. owned about 0.31% of Valmont Industries worth $17,706,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of VMI. Barclays PLC increased its stake in Valmont Industries by 91.6% in the 3rd quarter. Barclays PLC now owns 14,488 shares of the industrial products company's stock valued at $4,200,000 after purchasing an additional 6,927 shares in the last quarter. LaFleur & Godfrey LLC increased its position in Valmont Industries by 2.3% during the fourth quarter. LaFleur & Godfrey LLC now owns 13,873 shares of the industrial products company's stock worth $4,254,000 after buying an additional 308 shares in the last quarter. Choreo LLC increased its position in Valmont Industries by 18.0% during the fourth quarter. Choreo LLC now owns 1,292 shares of the industrial products company's stock worth $395,000 after buying an additional 197 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Valmont Industries during the fourth quarter worth $526,000. Finally, Entropy Technologies LP increased its position in Valmont Industries by 85.2% during the fourth quarter. Entropy Technologies LP now owns 1,522 shares of the industrial products company's stock worth $467,000 after buying an additional 700 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.
Valmont Industries Trading Up 1.0%
Shares of NYSE:VMI traded up $3.33 during midday trading on Friday, reaching $325.53. The company's stock had a trading volume of 100,113 shares, compared to its average volume of 140,557. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 18.95 and a beta of 1.13. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a 1 year low of $250.07 and a 1 year high of $379.22. The business has a 50 day moving average price of $299.84 and a 200 day moving average price of $317.24.
Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.08. The business had revenue of $969.31 million during the quarter, compared to the consensus estimate of $976.04 million. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. Research analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.
Valmont Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries's dividend payout ratio is currently 15.83%.
Wall Street Analysts Forecast Growth
VMI has been the subject of several recent research reports. Stifel Nicolaus raised their price target on Valmont Industries from $343.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen raised Valmont Industries from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd. Finally, DA Davidson downgraded Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a research report on Wednesday, February 19th.
View Our Latest Research Report on VMI
Valmont Industries Profile
(
Free Report)
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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