Valmont Industries (NYSE:VMI) Issues Quarterly Earnings Results

Valmont Industries (NYSE:VMI) posted its quarterly earnings results on Tuesday. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.76 by $0.38, RTT News reports. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. During the same quarter last year, the business earned $4.88 earnings per share.

Valmont Industries Price Performance

VMI stock opened at $526.43 on Tuesday. Valmont Industries has a 12 month low of $331.90 and a 12 month high of $585.71. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $539.79 and a 200 day moving average price of $476.36. The stock has a market cap of $10.22 billion, a PE ratio of 29.23, a P/E/G ratio of 1.23 and a beta of 1.33.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, June 26th. Valmont Industries’s dividend payout ratio (DPR) is presently 17.10%.

Analysts Set New Price Targets

Several brokerages have commented on VMI. Stifel Nicolaus raised their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings raised shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $582.00.

Insider Buying and Selling at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.42% of the company’s stock.

Institutional Trading of Valmont Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Valmont Industries during the 4th quarter worth approximately $487,000. Corient Private Wealth LLC boosted its stake in Valmont Industries by 980.4% in the fourth quarter. Corient Private Wealth LLC now owns 78,040 shares of the industrial products company’s stock valued at $31,397,000 after acquiring an additional 70,817 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Valmont Industries by 9.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,485 shares of the industrial products company’s stock worth $2,207,000 after purchasing an additional 466 shares during the last quarter. Vident Advisory LLC grew its holdings in Valmont Industries by 1.7% in the fourth quarter. Vident Advisory LLC now owns 9,762 shares of the industrial products company’s stock worth $3,927,000 after purchasing an additional 161 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Valmont Industries during the fourth quarter worth $386,000. 87.84% of the stock is currently owned by institutional investors.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.