Valmont Industries (NYSE:VMI) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Valmont Industries (NYSE:VMI – Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Weiss Ratings downgraded Valmont Industries from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Valmont Industries presently has an average rating of “Moderate Buy” and an average price target of $587.00.

View Our Latest Research Report on VMI

Valmont Industries Stock Performance

Shares of VMI opened at $421.62 on Friday. The business’s 50 day moving average is $465.24 and its two-hundred day moving average is $477.25. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.95 and a beta of 1.39. Valmont Industries has a 52-week low of $378.02 and a 52-week high of $585.71. The company has a quick ratio of 1.56, a current ratio of 2.41 and a debt-to-equity ratio of 0.43.

Valmont Industries (NYSE:VMI – Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.54. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.98 earnings per share. Analysts forecast that Valmont Industries will post 23.27 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 24th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, December 24th. This represents a $3.08 annualized dividend and a dividend yield of 0.7%. Valmont Industries’s dividend payout ratio (DPR) is 11.43%.

Institutional Trading of Valmont Industries

A number of hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Valmont Industries during the second quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in shares of Valmont Industries during the 1st quarter valued at about $37,000. Elevation Wealth Partners LLC boosted its position in shares of Valmont Industries by 179.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 43 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Valmont Industries in the third quarter worth approximately $51,000. Finally, State of Wyoming boosted its holdings in Valmont Industries by 98.8% in the first quarter. State of Wyoming now owns 169 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Valmont Industries

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Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.

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Analyst Recommendations for Valmont Industries (NYSE:VMI)

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