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

Congress Asset Management Co. increased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,193 shares of the industrial products company’s stock after purchasing 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 SEC filing.

Several other institutional investors have also recently modified their holdings of VMI. Franklin Resources Inc. raised its position in shares of Valmont Industries by 57.6% during the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after purchasing an additional 148,811 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 worth $71,825,000 after purchasing an additional 34,772 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Valmont Industries during the 4th quarter worth approximately $8,275,000. Segall Bryant & Hamill LLC raised its position in shares of Valmont Industries by 9.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company’s stock worth $83,689,000 after purchasing an additional 25,237 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Valmont Industries by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock worth $84,927,000 after purchasing an additional 24,224 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Valmont Industries

In related news, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Valmont Industries Stock Performance

NYSE:VMI opened at $319.86 on Monday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 21.73 and a beta of 1.05. The firm’s fifty day simple moving average is $321.69 and its 200 day simple moving average is $310.13. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $354.13.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. DA Davidson lifted their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $382.00 to $387.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

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.