Valmont Industries, Inc. (NYSE:VMI) to Issue $0.60 Quarterly Dividend

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.60 per share by the industrial products company on Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, June 28th.

Valmont Industries has increased its dividend by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 4 years. Valmont Industries has a dividend payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Valmont Industries to earn $16.48 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 14.6%.

Valmont Industries Price Performance

Shares of VMI traded down $1.17 during midday trading on Tuesday, reaching $246.55. The stock had a trading volume of 242,249 shares, compared to its average volume of 175,107. The firm's 50 day moving average price is $217.63 and its 200-day moving average price is $220.26. The company has a market capitalization of $4.99 billion, a P/E ratio of 32.48 and a beta of 1.05. Valmont Industries has a 52 week low of $188.63 and a 52 week high of $303.57. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating the consensus estimate of $3.24 by $1.08. The business had revenue of $977.83 million for the quarter, compared to analyst estimates of $986.98 million. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. Valmont Industries's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.54 EPS. On average, analysts forecast that Valmont Industries will post 15.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus reiterated a "buy" rating and issued a $249.00 price objective on shares of Valmont Industries in a research report on Monday, March 25th. StockNews.com upgraded shares of Valmont Industries from a "hold" rating to a "buy" rating in a research report on Saturday, March 23rd. Finally, DA Davidson decreased their price objective on shares of Valmont Industries from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Valmont Industries presently has an average rating of "Moderate Buy" and an average target price of $262.00.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.