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

Valmont Industries, Inc. (NYSE:VMI - Get Free Report)'s share price hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $356.97 and last traded at $356.71, with a volume of 48596 shares changing hands. The stock had previously closed at $320.79.

The industrial products company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.21. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $3.18 earnings per share.

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a $0.68 dividend. This is a boost from Valmont Industries's previous quarterly dividend of $0.60. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries's dividend payout ratio (DPR) is currently 15.83%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday. StockNews.com lowered shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Finally, DA Davidson downgraded Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a research note on Wednesday.

Insider Activity at Valmont Industries

In other news, Director Mogens C. Bay sold 20,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the sale, the director now owns 131,730 shares in the company, valued at $45,963,231.60. This represents a 13.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Valmont Industries

Institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in shares of Valmont Industries in the third quarter valued at approximately $39,000. Blue Trust Inc. increased its position in shares of Valmont Industries by 5,505.6% during the 3rd quarter. Blue Trust Inc. now owns 1,009 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 991 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Valmont Industries by 3.0% in the 3rd quarter. Raymond James & Associates now owns 13,934 shares of the industrial products company's stock worth $4,040,000 after buying an additional 407 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Valmont Industries by 35.4% in the 3rd quarter. Signaturefd LLC now owns 214 shares of the industrial products company's stock worth $62,000 after buying an additional 56 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Valmont Industries by 1.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company's stock worth $674,000 after buying an additional 35 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Valmont Industries Trading Down 3.8 %

The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The firm has a market cap of $7.00 billion, a P/E ratio of 20.32 and a beta of 1.05. The firm's 50-day simple moving average is $324.10 and its 200 day simple moving average is $312.21.

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.