Valmont Industries, Inc. (NYSE:VMI) Plans $0.60 Quarterly Dividend

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) declared a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.60 per share by the industrial products company on Wednesday, January 15th. This represents a $2.40 annualized dividend and a dividend yield of 0.74%.

Valmont Industries has raised its dividend by an average of 10.1% annually over the last three years. Valmont Industries has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valmont Industries to earn $17.92 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 13.4%.

Valmont Industries Stock Performance

Shares of VMI stock traded up $8.41 on Monday, hitting $325.56. The company had a trading volume of 173,401 shares, compared to its average volume of 157,512. The firm has a market cap of $6.57 billion, a P/E ratio of 21.55 and a beta of 1.02. The company has a 50-day moving average price of $288.16 and a 200-day moving average price of $269.76. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. Valmont Industries has a twelve month low of $189.05 and a twelve month high of $330.97.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.11. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.12 EPS. As a group, equities research analysts predict that Valmont Industries will post 16.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 approximately $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the company's stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Valmont Industries from $350.00 to $360.00 and gave the stock a "buy" rating in a report on Thursday. DA Davidson upped their price target on Valmont Industries from $340.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday. Finally, StockNews.com upgraded Valmont Industries from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 12th.

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.

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