Valmont Industries (NYSE:VMI) Announces Quarterly Earnings Results, Beats Estimates By $0.38 EPS

Key Points

• Valmont Industries beat quarterly earnings expectations, reporting $6.14 EPS versus the consensus estimate of $5.76, and improving from $4.88 EPS in the same quarter last year.
• The company also posted strong profitability metrics, including a 24.94% return on equity and an 8.91% net margin.
• Despite the earnings beat, VMI shares were down about 1% in Tuesday trading, even as analysts maintained a generally bullish stance with an average Buy rating and a $582.00 price target.

Valmont Industries (NYSE:VMI - Get Free Report) announced its earnings results on Tuesday. The industrial products company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.76 by $0.38, RTT News reports. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.During the same quarter in the previous year, the company earned $4.88 earnings per share.

Valmont Industries Trading Down 1.0%

Shares of VMI opened at $526.43 on Tuesday. The business's 50-day moving average price is $539.79 and its 200 day moving average price is $476.36. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.22 billion, a P/E ratio of 29.23, a P/E/G ratio of 1.23 and a beta of 1.33. Valmont Industries has a 1-year low of $331.90 and a 1-year high of $585.71.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Friday, June 26th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries's dividend payout ratio (DPR) is currently 17.10%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VMI shares. Weiss Ratings raised shares of Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Zacks Research upgraded shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. Wall Street Zen raised shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an "overweight" rating in a report on Wednesday, June 17th. Finally, Stifel Nicolaus lifted their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $582.00.

Insider Buying and Selling

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the transaction, the director directly owned 112,309 shares in the company, valued at $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.42% of the company's stock.

Institutional Investors Weigh In On Valmont Industries

A number of large investors have recently made changes to their positions in VMI. State of Wyoming acquired a new position in Valmont Industries in the 4th quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its stake in Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 105 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Valmont Industries during the 4th quarter valued at $45,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Valmont Industries in the third quarter worth $53,000. Finally, Quarry LP raised its position in Valmont Industries by 1,733.3% during the fourth quarter. Quarry LP now owns 165 shares of the industrial products company's stock valued at $66,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Company Profile

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.