Valmont Industries, Inc. (NYSE:VMI - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $522.00 and last traded at $518.9790, with a volume of 205253 shares changing hands. The stock had previously closed at $507.08.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on VMI. Stifel Nicolaus raised their target price on Valmont Industries from $497.00 to $541.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Valmont Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Zacks Research upgraded Valmont Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. DA Davidson lifted their price objective on Valmont Industries from $415.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Valmont Industries in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $500.33.
View Our Latest Analysis on VMI
Valmont Industries Trading Up 2.3%
The business has a 50 day moving average of $433.43 and a two-hundred day moving average of $427.34. 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 firm has a market cap of $10.07 billion, a P/E ratio of 28.82 and a beta of 1.36.
Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, topping the consensus estimate of $4.72 by $0.79. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.32 EPS. Analysts predict that Valmont Industries, Inc. will post 22.78 earnings per share for the current year.
Valmont Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries's dividend payout ratio is 17.10%.
Insider Activity
In related news, Director Mogens C. Bay sold 17,500 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director directly owned 112,309 shares of the company's stock, valued at $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.42% of the company's stock.
Institutional Trading of Valmont Industries
Large investors have recently bought and sold shares of the business. Community Bank N.A. acquired a new stake in shares of Valmont Industries during the third quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Valmont Industries during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Valmont Industries during the fourth quarter valued at about $27,000. First Horizon Corp acquired a new stake in shares of Valmont Industries during the third quarter valued at about $29,000. Finally, Leonteq Securities AG acquired a new stake in shares of Valmont Industries during the fourth quarter valued at about $30,000. 87.84% of the stock is owned by institutional investors and hedge funds.
Valmont Industries Company Profile
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Get Free Report)
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.
Further Reading
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