Valmont Industries, Inc. (NYSE:VMI) – Gabelli increased their FY2018 earnings estimates for Valmont Industries in a report issued on Friday. Gabelli analyst J. Garza now forecasts that the industrial products company will post earnings of $7.70 per share for the year, up from their previous estimate of $7.50. Gabelli also issued estimates for Valmont Industries’ FY2019 earnings at $8.60 EPS, FY2020 earnings at $9.30 EPS and FY2021 earnings at $9.95 EPS.
Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The business had revenue of $712.70 million during the quarter, compared to the consensus estimate of $668.06 million. During the same period last year, the business posted $1.85 EPS. Valmont Industries’s revenue was up 11.3% on a year-over-year basis.
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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 research report on Sunday, April 23rd. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. BidaskClub raised shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Stifel Nicolaus upped their price objective on shares of Valmont Industries from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Sunday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Valmont Industries currently has a consensus rating of “Hold” and an average target price of $168.00.
Shares of Valmont Industries (VMI) traded up 0.84% during midday trading on Monday, reaching $155.80. 76,495 shares of the company traded hands. The firm has a market capitalization of $3.51 billion, a PE ratio of 19.30 and a beta of 0.97. Valmont Industries has a 12-month low of $120.65 and a 12-month high of $165.20. The company has a 50-day moving average of $150.05 and a 200 day moving average of $149.26.
A number of large investors have recently modified their holdings of VMI. UBS Asset Management Americas Inc. boosted its position in Valmont Industries by 13.2% in the first quarter. UBS Asset Management Americas Inc. now owns 22,463 shares of the industrial products company’s stock worth $3,493,000 after buying an additional 2,611 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position 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 worth $690,000 after buying an additional 100 shares during the last quarter. Pinnacle Bank bought a new position in Valmont Industries during the first quarter worth $117,000. Virginia Retirement Systems ET AL bought a new position in Valmont Industries during the first quarter worth $715,000. Finally, State Board of Administration of Florida Retirement System boosted its position in 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 last quarter. 84.44% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Wednesday, June 28th. Valmont Industries’s payout ratio is 18.59%.
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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