Boenning Scattergood reissued their buy rating on shares of Valmont Industries, Inc. (NYSE:VMI) in a research report report published on Friday. The brokerage currently has a $185.00 price objective on the industrial products company’s stock.
A number of other brokerages have also recently commented on VMI. Zacks Investment Research raised shares of Valmont Industries from a sell rating to a hold rating in a report on Monday, November 6th. Stifel Nicolaus reissued a buy rating and issued a $171.00 price objective on shares of Valmont Industries in a research note on Friday, July 14th. BidaskClub cut shares of Valmont Industries from a sell rating to a strong sell rating in a research note on Friday, August 25th. Finally, Seaport Global Securities began coverage on shares of Valmont Industries in a research report on Wednesday, September 6th. They set a buy rating and a $160.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $176.50.
Shares of Valmont Industries (NYSE VMI) traded up $3.70 during mid-day trading on Friday, reaching $158.45. 205,100 shares of the company’s stock were exchanged, compared to its average volume of 130,114. Valmont Industries has a twelve month low of $135.75 and a twelve month high of $165.20. The stock has a market capitalization of $3,498.54, a PE ratio of 22.56, a P/E/G ratio of 2.22 and a beta of 1.03. The company has a current ratio of 3.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.65.
Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The business had revenue of $680.78 million for the quarter, compared to analysts’ expectations of $652.65 million. During the same period in the prior year, the company posted $1.48 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. sell-side analysts predict that Valmont Industries will post 6.98 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.95%. Valmont Industries’s dividend payout ratio is 17.90%.
Large investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Valmont Industries by 5.0% during the second quarter. American Century Companies Inc. now owns 135,512 shares of the industrial products company’s stock worth $20,273,000 after acquiring an additional 6,485 shares during the last quarter. Prudential Financial Inc. lifted its position in Valmont Industries by 516.7% during the second quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock valued at $22,565,000 after purchasing an additional 126,375 shares during the last quarter. Comerica Bank lifted its position in Valmont Industries by 7.8% during the second quarter. Comerica Bank now owns 24,986 shares of the industrial products company’s stock valued at $3,860,000 after purchasing an additional 1,802 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Valmont Industries by 64.1% during the second quarter. BNP Paribas Arbitrage SA now owns 9,174 shares of the industrial products company’s stock valued at $1,372,000 after purchasing an additional 3,582 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Valmont Industries by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 531,399 shares of the industrial products company’s stock valued at $79,496,000 after purchasing an additional 18,865 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.
Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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