Valmont Industries, Inc. (NYSE:VMI - Get Free Report)'s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $207.70, but opened at $225.41. Valmont Industries shares last traded at $236.18, with a volume of 81,053 shares trading hands.
The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $1.08. The business had revenue of $977.83 million for the quarter, compared to the consensus estimate of $986.98 million. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The business's quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.54 earnings per share.
Valmont Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.98%. Valmont Industries's dividend payout ratio (DPR) is presently 35.61%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on VMI shares. Stifel Nicolaus reiterated a "buy" rating and set a $249.00 price target on shares of Valmont Industries in a research report on Monday, March 25th. DA Davidson cut their target price on shares of Valmont Industries from $290.00 to $275.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Finally, StockNews.com raised shares of Valmont Industries from a "hold" rating to a "buy" rating in a report on Saturday, March 23rd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Valmont Industries currently has a consensus rating of "Moderate Buy" and an average target price of $262.00.
View Our Latest Stock Analysis on VMI
Hedge Funds Weigh In On Valmont Industries
Several hedge funds and other institutional investors have recently modified their holdings of VMI. Norges Bank acquired a new stake in Valmont Industries in the 4th quarter valued at about $49,526,000. Impax Asset Management Group plc increased its holdings in shares of Valmont Industries by 22.6% in the third quarter. Impax Asset Management Group plc now owns 797,247 shares of the industrial products company's stock valued at $191,507,000 after purchasing an additional 146,798 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Valmont Industries by 139.6% in the third quarter. Victory Capital Management Inc. now owns 204,584 shares of the industrial products company's stock valued at $49,143,000 after purchasing an additional 119,201 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Valmont Industries during the fourth quarter worth approximately $22,332,000. Finally, Wellington Management Group LLP acquired a new position in Valmont Industries during the fourth quarter worth $21,669,000. 87.84% of the stock is owned by hedge funds and other institutional investors.
Valmont Industries Trading Up 17.8 %
The company has a market capitalization of $4.95 billion, a PE ratio of 34.42 and a beta of 1.05. The company has a fifty day simple moving average of $215.91 and a 200-day simple moving average of $220.13. The company has a current ratio of 2.47, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82.
About Valmont Industries
(
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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.
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