Valmont Industries, Inc. (NYSE:VMI) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.08. The firm earned $637.47 million during the quarter, compared to the consensus estimate of $626.02 million. Valmont Industries had a return on equity of 14.27% and a net margin of 2.93%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 EPS.
Valmont Industries (NYSE:VMI) opened at 155.80 on Friday. The company has a market cap of $3.51 billion, a P/E ratio of 20.42 and a beta of 0.98. The firm has a 50-day moving average price of $152.57 and a 200-day moving average price of $144.07. Valmont Industries has a 52 week low of $120.65 and a 52 week high of $165.20.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were paid a $0.375 dividend. The ex-dividend date was Wednesday, March 29th. This represents a $1.50 dividend on an annualized basis and a yield of 0.96%. Valmont Industries’s dividend payout ratio (DPR) is presently 46.88%.
VMI has been the subject of a number of recent analyst reports. TheStreet upgraded Valmont Industries from a “c” rating to a “b-” rating in a research note on Tuesday, February 21st. Zacks Investment Research upgraded Valmont Industries from a “sell” rating to a “buy” rating and set a $162.00 price objective for the company in a research note on Tuesday, February 7th. Finally, Stifel Nicolaus upgraded Valmont Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $160.00 to $167.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $158.00.
In other Valmont Industries news, Director Clark T. Jr. Randt sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $155.30, for a total transaction of $155,300.00. Following the completion of the sale, the director now owns 5,979 shares of the company’s stock, valued at $928,538.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mogens C. Bay sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $159.49, for a total value of $7,974,500.00. Following the sale, the chairman now directly owns 285,789 shares of the company’s stock, valued at approximately $45,580,487.61. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Valmont Industries by 0.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,393 shares of the industrial products company’s stock valued at $457,000 after buying an additional 14 shares in the last quarter. Capstone Asset Management Co. raised its stake in Valmont Industries by 2.4% in the third quarter. Capstone Asset Management Co. now owns 2,418 shares of the industrial products company’s stock valued at $325,000 after buying an additional 57 shares in the last quarter. First Republic Investment Management Inc. raised its stake in Valmont Industries by 2.8% in the fourth quarter. First Republic Investment Management Inc. now owns 2,146 shares of the industrial products company’s stock valued at $302,000 after buying an additional 59 shares in the last quarter. LS Investment Advisors LLC raised its stake in Valmont Industries by 6.7% in the third quarter. LS Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock valued at $199,000 after buying an additional 93 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised 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. 83.78% of the stock is owned by institutional investors and hedge funds.
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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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