Stifel Nicolaus reiterated their buy rating on shares of Valmont Industries, Inc. (NYSE:VMI) in a research note released on Friday. The brokerage currently has a $171.00 price target on the industrial products company’s stock.
Several other equities analysts have also issued reports on VMI. Zacks Investment Research lowered Valmont Industries from a buy rating to a hold rating in a research note on Friday, May 26th. BidaskClub raised Valmont Industries from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Finally, William Blair reissued a market perform rating on shares of Valmont Industries in a research note on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $168.00.
Shares of Valmont Industries (NYSE VMI) traded up 0.82% during mid-day trading on Friday, hitting $152.95. The stock had a trading volume of 63,070 shares. Valmont Industries has a 1-year low of $120.65 and a 1-year high of $165.20. The firm has a market capitalization of $3.45 billion, a PE ratio of 19.35 and a beta of 0.97. The stock’s 50-day moving average is $148.74 and its 200-day moving average is $148.92.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $1.72 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.08. The company had revenue of $637.47 million for the quarter, compared to analyst estimates of $626.02 million. Valmont Industries had a return on equity of 14.93% and a net margin of 6.99%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 earnings per share. Equities analysts expect that Valmont Industries will post $7.08 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.98%. The ex-dividend date was Wednesday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 18.96%.
A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Valmont Industries during the fourth quarter valued at about $518,000. Guggenheim Capital LLC increased its stake in Valmont Industries by 97.9% in the fourth quarter. Guggenheim Capital LLC now owns 4,224 shares of the industrial products company’s stock valued at $595,000 after buying an additional 2,090 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Valmont Industries by 2.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 4,900 shares of the industrial products company’s stock valued at $690,000 after buying an additional 100 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Valmont Industries by 9.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,860 shares of the industrial products company’s stock valued at $544,000 after buying an additional 320 shares in the last quarter. Finally, Norges Bank purchased a new stake in Valmont Industries during the fourth quarter valued at approximately $28,154,000. 84.45% of the stock is currently owned by hedge funds and other institutional investors.
Valmont Industries Company Profile
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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