Congress Wealth Management LLC DE Has $3.37 Million Holdings in Valmont Industries, Inc. (NYSE:VMI)

Congress Wealth Management LLC DE trimmed its position in Valmont Industries, Inc. (NYSE:VMI) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,971 shares of the industrial products company’s stock after selling 751 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Valmont Industries were worth $3,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VMI. Franklin Resources Inc. lifted its position in shares of Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock valued at $123,512,000 after acquiring an additional 148,811 shares in the last quarter. US Bancorp DE raised its stake in Valmont Industries by 2,077.0% during the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company’s stock valued at $18,026,000 after purchasing an additional 56,079 shares during the period. Wellington Management Group LLP raised its stake in Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock valued at $71,825,000 after purchasing an additional 34,772 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Valmont Industries in the fourth quarter valued at $8,275,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Valmont Industries by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock worth $84,927,000 after buying an additional 24,224 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VMI has been the topic of several recent analyst reports. William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, March 21st. Stifel Nicolaus upped their target price on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. DA Davidson cut shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 19th.

Valmont Industries Stock Performance

Shares of NYSE VMI opened at $300.90 on Thursday. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $379.22. The business’s 50-day moving average price is $331.27 and its two-hundred day moving average price is $319.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The company has a market capitalization of $6.04 billion, a P/E ratio of 17.51 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same quarter in the prior year, the company posted $3.18 earnings per share. Analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.90%. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s dividend payout ratio (DPR) is currently 15.83%.

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.