Valmont Industries (NYSE:VMI) Shares Gap Down - Here's Why

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $326.58, but opened at $305.17. Valmont Industries shares last traded at $301.24, with a volume of 46,735 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VMI. StockNews.com cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 19th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. William Blair lowered shares of Valmont Industries from an "outperform" rating to a "market perform" rating in a research report on Friday. Finally, DA Davidson downgraded shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a report on Wednesday, February 19th.

Valmont Industries Price Performance

The firm's 50 day simple moving average is $332.20 and its two-hundred day simple moving average is $319.40. The firm has a market capitalization of $5.96 billion, a P/E ratio of 17.28 and a beta of 0.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55.

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Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.63 by $0.21. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $3.18 EPS. As a group, analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.92%. Valmont Industries's dividend payout ratio is presently 15.83%.

Institutional Trading of Valmont Industries

Several large investors have recently bought and sold shares of VMI. First Horizon Advisors Inc. lifted its position in Valmont Industries by 12.5% during the third quarter. First Horizon Advisors Inc. now owns 279 shares of the industrial products company's stock valued at $81,000 after buying an additional 31 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Valmont Industries by 0.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,950 shares of the industrial products company's stock worth $1,211,000 after purchasing an additional 34 shares during the period. PNC Financial Services Group Inc. grew its holdings in Valmont Industries by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company's stock worth $472,000 after purchasing an additional 35 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Valmont Industries by 16.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 36 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Valmont Industries by 0.7% in the 4th quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company's stock worth $1,795,000 after purchasing an additional 38 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

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.