Valmont Industries, Inc. (VMI) Announces Quarterly Dividend of $0.38

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.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). The business had revenue of $680.78 million during the quarter, compared to analysts’ expectations of $652.65 million. Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. equities analysts forecast that Valmont Industries will post 6.98 EPS for the current fiscal year.

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.

Dividend History for Valmont Industries (NYSE:VMI)

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