Valmont Industries (NYSE:VMI) Reaches New 12-Month High Following Strong Earnings

Valmont Industries, Inc. (NYSE:VMI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $313.79 and last traded at $313.79, with a volume of 15790 shares trading hands. The stock had previously closed at $294.94.

The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. Valmont Industries's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $4.12 EPS.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.60 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.74%. Valmont Industries's dividend payout ratio is currently 31.62%.

Analyst Ratings Changes

VMI has been the topic of several recent research reports. StockNews.com raised shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Finally, DA Davidson lifted their price objective on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $332.50.

Insiders Place Their Bets

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the firm's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Theodor Werner Freye sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares of the company's stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of Valmont Industries

A number of institutional investors have recently added to or reduced their stakes in VMI. Wellington Management Group LLP acquired a new stake in Valmont Industries in the fourth quarter valued at approximately $21,669,000. Vanguard Group Inc. lifted its stake in Valmont Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company's stock valued at $490,407,000 after acquiring an additional 54,189 shares during the last quarter. Congress Wealth Management LLC DE lifted its stake in Valmont Industries by 11.7% in the first quarter. Congress Wealth Management LLC DE now owns 27,673 shares of the industrial products company's stock valued at $6,317,000 after acquiring an additional 2,909 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Valmont Industries by 69.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 161,605 shares of the industrial products company's stock valued at $36,891,000 after purchasing an additional 65,970 shares during the period. Finally, State of Michigan Retirement System raised its position in shares of Valmont Industries by 2.0% in the first quarter. State of Michigan Retirement System now owns 5,088 shares of the industrial products company's stock valued at $1,161,000 after purchasing an additional 100 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Stock Performance

The company has a market cap of $6.57 billion, a P/E ratio of 43.42 and a beta of 1.02. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The stock's 50-day moving average price is $285.84 and its 200 day moving average price is $267.71.

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.