Valmont Industries, Inc. (NYSE:VMI) announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05, Bloomberg Earnings reports. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The firm had revenue of $712.70 million for the quarter, compared to analysts’ expectations of $668.06 million. During the same period in the prior year, the business posted $1.85 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis.
Valmont Industries (VMI) traded down 1.73% during mid-day trading on Friday, hitting $153.00. The stock had a trading volume of 102,491 shares. Valmont Industries has a 12 month low of $120.65 and a 12 month high of $165.20. The stock’s 50-day moving average price is $151.43 and its 200-day moving average price is $149.81. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 18.95 and a beta of 0.97.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 18.59%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Valmont Industries by 13,061.6% in the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock valued at $274,432,000 after buying an additional 1,751,426 shares in the last quarter. Neuberger Berman Group LLC raised its position in Valmont Industries by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 1,377,502 shares of the industrial products company’s stock valued at $214,201,000 after buying an additional 23,156 shares in the last quarter. State Street Corp raised its position in Valmont Industries by 1.6% in the first quarter. State Street Corp now owns 592,014 shares of the industrial products company’s stock valued at $92,059,000 after buying an additional 9,182 shares in the last quarter. FMR LLC raised its position in Valmont Industries by 0.4% in the first quarter. FMR LLC now owns 503,021 shares of the industrial products company’s stock valued at $78,220,000 after buying an additional 2,221 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Valmont Industries by 55.3% in the first quarter. Bank of New York Mellon Corp now owns 413,659 shares of the industrial products company’s stock valued at $64,324,000 after buying an additional 147,339 shares in the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.
VMI has been the topic of several analyst reports. Stifel Nicolaus upgraded Valmont Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $160.00 to $167.00 in a research report on Monday, April 17th. William Blair restated a “market perform” rating on shares of Valmont Industries in a research report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, April 25th. Finally, BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Valmont Industries currently has a consensus rating of “Hold” and a consensus price target of $168.00.
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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