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

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) declared a quarterly dividend on Monday, April 28th, RTT News reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.68 per share by the industrial products company on Tuesday, July 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, June 27th.

Valmont Industries has raised its dividend payment by an average of 6.3% annually over the last three years. Valmont Industries has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NYSE:VMI traded up $8.76 during trading on Friday, reaching $307.47. 166,240 shares of the company's stock traded hands, compared to its average volume of 145,397. The firm has a market cap of $6.17 billion, a PE ratio of 17.90 and a beta of 1.07. Valmont Industries has a fifty-two week low of $244.83 and a fifty-two week high of $379.22. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $301.03 and a 200-day simple moving average of $319.05.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.08. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $969.31 million during the quarter, compared to analysts' expectations of $976.04 million. As a group, analysts predict that Valmont Industries will post 18.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $343.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. DA Davidson cut Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective on the stock. in a report on Wednesday, February 19th. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Finally, StockNews.com downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 29th.

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.