Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, December 4th, Zacks reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.375 per share by the industrial products company on Tuesday, January 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, December 28th.
Valmont Industries has increased its dividend payment by an average of 16.4% per year over the last three years. Valmont Industries has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valmont Industries to earn $7.89 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 19.0%.
Valmont Industries (NYSE:VMI) traded down $1.70 during trading on Friday, hitting $165.60. The stock had a trading volume of 38,125 shares, compared to its average volume of 107,945. The stock has a market capitalization of $3,782.26, a PE ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.06. Valmont Industries has a 1-year low of $135.95 and a 1-year high of $176.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.50 and a quick ratio of 2.53.
In other Valmont Industries news, VP Vanessa Kay Brown sold 3,059 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.30% of the stock is currently owned by insiders.
A number of research firms have recently commented on VMI. Stifel Nicolaus restated a “buy” rating and issued a $183.00 price objective on shares of Valmont Industries in a research report on Tuesday, October 17th. Boenning Scattergood reiterated an “outperform” rating on shares of Valmont Industries in a research report on Tuesday, September 5th. Seaport Global Securities began coverage on Valmont Industries in a research report on Wednesday, September 6th. They set a “buy” rating and a $160.00 price target for the company. Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Tuesday, October 17th. Finally, BidaskClub cut Valmont Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $174.25.
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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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