Stifel Nicolaus Reaffirms “Buy” Rating for Valmont Industries, Inc. (VMI)

Stifel Nicolaus reaffirmed their buy rating on shares of Valmont Industries, Inc. (NYSE:VMI) in a report issued on Friday, July 14th. They currently have a $171.00 price objective on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Valmont Industries from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Valmont Industries from a hold rating to a buy rating and set a $171.00 target price on the stock in a research report on Friday, May 12th. Finally, William Blair reiterated a market perform rating on shares of Valmont Industries in a research report on Sunday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $168.00.

Shares of Valmont Industries (VMI) opened at 148.45 on Friday. The company has a market capitalization of $3.35 billion, a P/E ratio of 18.39 and a beta of 0.97. The firm has a 50-day moving average of $151.49 and a 200 day moving average of $150.53. Valmont Industries has a 1-year low of $120.65 and a 1-year high of $165.20.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The company had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. On average, analysts anticipate that Valmont Industries will post $7.10 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is currently 18.59%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its position in Valmont Industries by 220.0% in the second quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after buying an additional 495 shares during the period. Pinnacle Bank purchased a new position in Valmont Industries during the first quarter valued at about $117,000. Riverhead Capital Management LLC increased its position in Valmont Industries by 85.6% in the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after buying an additional 599 shares during the period. Gofen & Glossberg LLC IL purchased a new position in Valmont Industries during the first quarter valued at about $205,000. Finally, Janney Montgomery Scott LLC purchased a new position in Valmont Industries during the first quarter valued at about $207,000. 84.97% of the stock is owned by institutional investors and hedge funds.

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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