Valmont Industries (NYSE:VMI) Posts Earnings Results, Beats Estimates By $0.11 EPS

Valmont Industries (NYSE:VMI - Get Free Report) announced its quarterly earnings results on Tuesday. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11, Briefing.com reports. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned $4.12 earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. Valmont Industries updated its FY24 guidance to $16.50-$17.30 EPS and its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Stock Up 10.3 %

Valmont Industries stock traded up $30.49 during mid-day trading on Wednesday, reaching $325.43. The company's stock had a trading volume of 380,023 shares, compared to its average volume of 157,223. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $330.97. The business's 50 day simple moving average is $285.84 and its 200 day simple moving average is $267.71. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 43.42 and a beta of 1.02.

Valmont Industries Announces Dividend

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

Insiders Place Their Bets

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares in the company, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the business's stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

VMI has been the subject of a number of research reports. DA Davidson increased their target price on Valmont Industries from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a report on Monday, August 12th. Finally, Stifel Nicolaus upped their target price 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. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $332.50.

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.