Wall Street Zen upgraded shares of Valmont Industries (NYSE:VMI – Free Report) from a buy rating to a strong-buy rating in a report issued on Saturday morning.
Several other equities analysts have also recently weighed in on VMI. Weiss Ratings upgraded Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Stifel Nicolaus increased their target price on shares of Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. raised their price target on shares of Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Finally, Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $582.00.
Check Out Our Latest Stock Report on VMI
Valmont Industries Stock Down 1.0%
Valmont Industries (NYSE:VMI – Get Free Report) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $994.85 million. During the same quarter in the previous year, the firm earned $4.32 earnings per share. Valmont Industries’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that Valmont Industries will post 22.83 EPS for the current fiscal year.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Friday, June 26th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, June 26th. Valmont Industries’s dividend payout ratio (DPR) is 17.10%.
Insiders Place Their Bets
In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the transaction, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.
Institutional Investors Weigh In On Valmont Industries
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in shares of Valmont Industries by 225.1% in the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock worth $19,300,000 after buying an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 buying an additional 4,676 shares during the last quarter. Empowered Funds LLC bought a new stake in Valmont Industries in the first quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Valmont Industries by 3.8% in the first 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 worth $20,692,000 after acquiring an additional 2,639 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Valmont Industries by 223.4% in the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 105 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.
Valmont Industries Company Profile
Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.
The company operates through several core business segments.
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