Stifel Nicolaus reissued their buy rating on shares of Valmont Industries, Inc. (NYSE:VMI) in a research report report published on Friday, July 14th. The brokerage currently has a $171.00 target price on the industrial products company’s stock.
Several other research firms have also weighed in on VMI. Zacks Investment Research lowered shares of Valmont Industries from a buy rating to a hold rating in a research note on Friday, June 23rd. William Blair restated a market perform rating on shares of Valmont Industries in a research note on Sunday, April 23rd. Finally, BidaskClub upgraded shares of Valmont Industries from a strong sell rating to a sell rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $168.00.
Shares of Valmont Industries (NYSE:VMI) opened at 148.45 on Friday. 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 is $151.49 and its 200 day moving average is $150.53. The company has a market cap of $3.35 billion, a P/E ratio of 18.39 and a beta of 0.97.
Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.05. The company had revenue of $712.70 million during the quarter, compared to analyst estimates of $668.06 million. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. Valmont Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 EPS. On average, analysts anticipate that Valmont Industries will post $7.10 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.375 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.01%. Valmont Industries’s payout ratio is 18.59%.
Several hedge funds have recently bought and sold shares of the company. Global X Management Co. LLC increased its position in shares of Valmont Industries by 220.0% in the second quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock worth $108,000 after buying an additional 495 shares during the period. Pinnacle Bank bought a new position in shares of Valmont Industries during the first quarter worth $117,000. Riverhead Capital Management LLC increased its position in shares of Valmont Industries by 85.6% in the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after buying an additional 599 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Valmont Industries by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after buying an additional 8 shares during the period. Finally, Gofen & Glossberg LLC IL bought a new position in shares of Valmont Industries during the first quarter worth $205,000. Hedge funds and other institutional investors own 84.97% of the company’s stock.
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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