Valmont Industries, Inc. (NYSE:VMI) Given Consensus Rating of "Hold" by Brokerages

Thursday, July 22, 2021 | MarketBeat

Shares of Valmont Industries, Inc. (NYSE:VMI) have earned a consensus recommendation of "Hold" from the six brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $240.00.

VMI has been the topic of several recent research reports. DA Davidson upped their price objective on Valmont Industries from $200.00 to $215.00 and gave the stock a "neutral" rating in a report on Friday, April 23rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Valmont Industries from a "hold" rating to a "sell" rating and set a $242.00 target price on the stock. in a research report on Wednesday, April 21st. Finally, Boenning Scattergood raised Valmont Industries from a "neutral" rating to an "outperform" rating and set a $350.00 price objective on the stock in a research report on Thursday.

NYSE VMI traded down $3.25 during trading hours on Thursday, reaching $226.45. The company's stock had a trading volume of 561 shares, compared to its average volume of 89,878. The business's 50-day moving average is $237.83. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.58. Valmont Industries has a 1 year low of $117.36 and a 1 year high of $265.09. The stock has a market cap of $4.81 billion, a P/E ratio of 31.78 and a beta of 1.18.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, July 20th. The industrial products company reported $3.06 EPS for the quarter, topping the Zacks' consensus estimate of $2.50 by $0.56. Valmont Industries had a return on equity of 15.61% and a net margin of 5.10%. The company had revenue of $894.63 million for the quarter, compared to analysts' expectations of $815.05 million. During the same period in the previous year, the firm earned $2.00 EPS. The firm's revenue was up 29.9% compared to the same quarter last year. Sell-side analysts anticipate that Valmont Industries will post 9.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Friday, June 25th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, June 24th. Valmont Industries's dividend payout ratio (DPR) is presently 24.45%.

In other news, EVP Aaron M. Schapper sold 1,004 shares of the stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $251.00, for a total value of $252,004.00. Following the transaction, the executive vice president now directly owns 7,480 shares of the company's stock, valued at $1,877,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company's stock.

A number of institutional investors have recently bought and sold shares of VMI. Credit Suisse AG grew its holdings in Valmont Industries by 35.0% during the fourth quarter. Credit Suisse AG now owns 22,783 shares of the industrial products company's stock worth $3,985,000 after acquiring an additional 5,906 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Valmont Industries by 28.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 10,293 shares of the industrial products company's stock valued at $1,801,000 after purchasing an additional 2,275 shares during the period. Gyon Technologies Capital Management LP acquired a new stake in Valmont Industries in the fourth quarter valued at approximately $212,000. New York Life Investments Alternatives acquired a new stake in Valmont Industries in the fourth quarter valued at approximately $558,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Valmont Industries by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 365,177 shares of the industrial products company's stock valued at $63,880,000 after acquiring an additional 8,564 shares in the last quarter. 86.88% of the stock is currently owned by hedge funds and other institutional investors.

About Valmont Industries

Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

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