Valmont Industries, Inc. (NYSE:VMI) Rating Increased to Sell at BidaskClub

Valmont Industries, Inc. (NYSE:VMI) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

VMI has been the subject of a number of other reports. William Blair reaffirmed a “market perform” rating on shares of Valmont Industries in a report on Sunday, April 23rd. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Stifel Nicolaus lifted their price target on Valmont Industries from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $167.50.

Valmont Industries (NYSE:VMI) opened at 150.89 on Thursday. Valmont Industries has a 12 month low of $120.65 and a 12 month high of $165.20. The company’s 50-day moving average price is $148.74 and its 200 day moving average price is $148.92. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 19.09 and a beta of 0.97.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.08. The company had revenue of $637.47 million during the quarter, compared to the consensus estimate of $626.02 million. Valmont Industries had a return on equity of 14.93% and a net margin of 6.99%. Valmont Industries’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.45 EPS. Analysts predict that Valmont Industries will post $7.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is 18.96%.

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Hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in shares of 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 worth $690,000 after buying an additional 100 shares during the period. Pinnacle Bank acquired a new stake in shares of Valmont Industries during the first quarter worth about $117,000. Comerica Bank increased its stake in shares of Valmont Industries by 3.1% in the fourth quarter. Comerica Bank now owns 16,810 shares of the industrial products company’s stock worth $2,360,000 after buying an additional 513 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Valmont Industries by 1.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,424 shares of the industrial products company’s stock worth $4,420,000 after buying an additional 497 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Valmont Industries by 2.5% in the first quarter. First Trust Advisors LP now owns 77,926 shares of the industrial products company’s stock worth $12,117,000 after buying an additional 1,922 shares during the period. 84.41% of the stock is owned by institutional investors.

About Valmont Industries

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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