Valmont Industries, Inc. (NYSE:VMI) Announces $0.77 Quarterly Dividend

Key Points

• Valmont Industries declared a quarterly dividend of $0.77 per share, payable October 15 to shareholders of record on September 25. The dividend is equivalent to an annualized $3.08 per share and a 0.6% yield.
• The dividend appears well covered, with a 15.6% payout ratio and analysts expecting a future payout ratio of 12.1%; the company has increased its dividend for the past year.
• Valmont recently exceeded quarterly earnings and revenue expectations, reporting $6.14 in EPS and $1.12 billion in revenue, up 6.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $587.

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, September 25th will be given a dividend of 0.77 per share by the industrial products company on Thursday, October 15th. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, September 25th.

Valmont Industries has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. Valmont Industries has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valmont Industries to earn $25.52 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 12.1%.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $494.81 on Tuesday. Valmont Industries has a 12 month low of $353.41 and a 12 month high of $585.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. The firm's 50 day simple moving average is $538.03 and its 200-day simple moving average is $479.22. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.11 and a beta of 1.33.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $4.88 earnings per share. The company's revenue was up 6.5% compared to the same quarter last year. Analysts expect that Valmont Industries will post 22.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VMI. JPMorgan Chase & Co. boosted their price target on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Zacks Research cut Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings raised shares of Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Stifel Nicolaus lifted their target price on Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Finally, Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the stock an "outperform" rating in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $587.00.

About Valmont Industries

Valmont Industries, Inc NYSE: VMI is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont's solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.