StockNews.com upgraded shares of Valmont Industries (NYSE:VMI - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.
Several other research analysts have also recently weighed in on VMI. DA Davidson cut Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a research report on Wednesday, February 19th. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, February 19th.
Get Our Latest Research Report on VMI
Valmont Industries Stock Performance
Shares of NYSE:VMI traded down $8.23 during trading on Tuesday, hitting $318.49. The stock had a trading volume of 136,428 shares, compared to its average volume of 133,828. Valmont Industries has a 12-month low of $202.01 and a 12-month high of $379.22. 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 stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 18.54 and a beta of 0.98. The stock has a 50-day simple moving average of $330.35 and a two-hundred day simple moving average of $317.30.
Valmont Industries (NYSE:VMI - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.21. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same quarter last year, the company posted $3.18 earnings per share. On average, equities research analysts expect that Valmont Industries will post 18.07 earnings per share for the current fiscal year.
Valmont Industries Increases Dividend
The business also recently declared 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 represents a $2.72 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's payout ratio is presently 15.83%.
Institutional Trading of Valmont Industries
Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Valmont Industries during the fourth quarter valued at approximately $67,822,000. Franklin Resources Inc. raised its stake in Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company's stock valued at $123,512,000 after purchasing an additional 148,811 shares during the last quarter. US Bancorp DE lifted its holdings in Valmont Industries by 2,077.0% in the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company's stock valued at $18,026,000 after purchasing an additional 56,079 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in Valmont Industries during the 4th quarter worth $14,180,000. Finally, Wellington Management Group LLP grew its holdings in shares of Valmont Industries by 16.3% during the third quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company's stock worth $71,825,000 after buying an additional 34,772 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.
Valmont Industries Company Profile
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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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