Shares of Valmont Industries, Inc. (NYSE:VMI – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $500.3333.
A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Stifel Nicolaus raised their target price on shares of Valmont Industries from $497.00 to $541.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, DA Davidson raised their target price on shares of Valmont Industries from $415.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th.
Read Our Latest Stock Analysis on Valmont Industries
Valmont Industries Stock Up 2.6%
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating the consensus estimate of $4.72 by $0.79. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.32 earnings per share. Equities analysts expect that Valmont Industries will post 22.78 earnings per share for the current fiscal year.
Valmont Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, June 26th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is 17.10%.
Insider Transactions at Valmont Industries
In related news, Director Mogens C. Bay sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the sale, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.42% of the company’s stock.
Institutional Trading of Valmont Industries
Hedge funds have recently bought and sold shares of the company. Community Bank N.A. purchased a new position in Valmont Industries during the third quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in Valmont Industries during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Valmont Industries during the fourth quarter worth approximately $27,000. First Horizon Corp purchased a new position in Valmont Industries during the third quarter worth approximately $29,000. Finally, Leonteq Securities AG purchased a new position in Valmont Industries during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 87.84% of the company’s stock.
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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