Valmont Industries, Inc. (VMI) To Go Ex-Dividend on June 27th

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Friday, June 27th will be paid a dividend of 0.68 per share by the industrial products company on Tuesday, July 15th. This represents a $2.72 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, June 27th.

Valmont Industries has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valmont Industries to earn $19.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 13.6%.

Valmont Industries Stock Performance

Shares of VMI opened at $325.36 on Wednesday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 18.94 and a beta of 1.13. The business’s fifty day simple moving average is $310.72 and its two-hundred day simple moving average is $315.21. Valmont Industries has a 12 month low of $250.07 and a 12 month high of $379.22. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.08. The firm had revenue of $969.31 million during the quarter, compared to analyst estimates of $976.04 million. Valmont Industries had a net margin of 8.55% and a return on equity of 22.27%. Research analysts anticipate that Valmont Industries will post 18.07 earnings per share for the current fiscal year.

Institutional Trading of Valmont Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in Valmont Industries by 223.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock worth $43,000 after buying an additional 105 shares in the last quarter. Empowered Funds LLC bought a new position in Valmont Industries in the 1st quarter worth approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Valmont Industries by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after buying an additional 2,639 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Valmont Industries by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock worth $16,873,000 after acquiring an additional 4,676 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Valmont Industries by 225.1% during the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock valued at $19,300,000 after acquiring an additional 46,825 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VMI. Wall Street Zen raised Valmont Industries from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. William Blair raised shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $343.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd.

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.