Valmont Industries, Inc. (VMI) Receives $165.50 Consensus PT from Analysts
Valmont Industries, Inc. (NYSE:VMI) has received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $165.50.
VMI has been the topic of several recent research reports. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $171.00 target price on shares of Valmont Industries in a report on Friday, July 14th. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Boenning Scattergood reaffirmed a “hold” rating on shares of Valmont Industries in a report on Thursday, July 20th. Finally, Seaport Global Securities initiated coverage on Valmont Industries in a report on Wednesday, September 6th. They set a “buy” rating and a $160.00 target price on the stock.
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Valmont Industries (NYSE VMI) traded up 0.83% during trading on Friday, reaching $147.76. The company’s stock had a trading volume of 70,363 shares. The firm has a 50 day moving average price of $148.59 and a 200-day moving average price of $150.75. Valmont Industries has a 52-week low of $120.65 and a 52-week high of $165.20. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 18.30 and a beta of 0.98.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.05. The business had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. Valmont Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. On average, analysts expect that Valmont Industries will post $7.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s payout ratio is presently 18.59%.
A number of institutional investors and hedge funds have recently made changes to their positions in VMI. BlackRock Inc. lifted its holdings in Valmont Industries by 13,061.6% during the 1st quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after buying an additional 1,751,426 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Valmont Industries by 90.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 407,665 shares of the industrial products company’s stock worth $59,682,000 after buying an additional 193,098 shares during the period. Bank of New York Mellon Corp lifted its holdings in Valmont Industries by 55.3% during the 1st quarter. Bank of New York Mellon Corp now owns 413,659 shares of the industrial products company’s stock worth $64,324,000 after buying an additional 147,339 shares during the period. Prudential Financial Inc. lifted its holdings in Valmont Industries by 516.7% during the 2nd quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock worth $22,565,000 after buying an additional 126,375 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new position in Valmont Industries during the 1st quarter worth about $14,376,000. 83.98% of the stock is currently owned by hedge funds and other institutional investors.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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