Valmont Industries, Inc. (NYSE:VMI) Announces Quarterly Dividend of $0.68

Key Points

• Valmont Industries announced a quarterly dividend of $0.68 per share, with investors of record receiving payment on October 15th, totaling an annualized dividend of $2.72 and a yield of 0.76%.
• The company has a low payout ratio of 13.8%, indicating that its dividend is well-supported by earnings, and is projected to maintain a future payout ratio of 13.6%.
• Valmont's stock is currently trading at $357.81, down 1.0% on Monday, with a market cap of $7.18 billion and a price-to-earnings ratio of 33.32.

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) announced a quarterly dividend on Monday, July 28th, RTT News reports. Investors of record on Friday, September 26th will be paid a dividend of 0.68 per share by the industrial products company on Wednesday, October 15th. This represents a $2.72 annualized dividend and a dividend yield of 0.76%.

Valmont Industries has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Valmont Industries to earn $19.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 13.6%.

Valmont Industries Trading Down 1.0%

Valmont Industries stock traded down $3.62 during trading hours on Monday, hitting $357.81. The stock had a trading volume of 124,723 shares, compared to its average volume of 161,287. Valmont Industries has a one year low of $250.07 and a one year high of $379.22. The company has a quick ratio of 1.44, a current ratio of 2.15 and a debt-to-equity ratio of 0.48. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 33.32 and a beta of 1.12. The business's 50 day simple moving average is $329.05 and its 200-day simple moving average is $319.17.

Valmont Industries (NYSE:VMI - Get Free Report) last released its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 EPS for the quarter, topping the consensus estimate of $4.78 by $0.10. Valmont Industries had a return on equity of 22.10% and a net margin of 5.98%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the firm posted $4.91 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. On average, equities analysts predict that Valmont Industries will post 18.07 EPS for the current fiscal year.

Institutional Trading of Valmont Industries

A number of hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its holdings in Valmont Industries by 223.4% during the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock worth $43,000 after acquiring an additional 105 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Valmont Industries by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company's stock valued at $20,692,000 after buying an additional 2,639 shares during the period. Empowered Funds LLC bought a new stake in shares of Valmont Industries in the first quarter valued at $265,000. Goldman Sachs Group Inc. raised its stake in shares of Valmont Industries by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock valued at $16,873,000 after buying an additional 4,676 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Valmont Industries by 225.1% in the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company's stock valued at $19,300,000 after buying an additional 46,825 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on VMI shares. Wall Street Zen raised Valmont Industries from a "hold" rating to a "buy" rating in a research note on Saturday. Stifel Nicolaus lifted their target price on Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Monday, July 21st. DA Davidson lifted their target price on Valmont Industries from $380.00 to $400.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd.

About Valmont Industries

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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