Valmont Industries, Inc. (NYSE:VMI) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 267,800 shares, a decrease of 27.1% from the March 31st total of 367,500 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily volume of 156,200 shares, the days-to-cover ratio is currently 1.7 days.
VMI has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Valmont Industries from a “hold” rating to a “sell” rating and set a $242.00 price objective for the company. in a report on Wednesday, April 21st. DA Davidson upped their price objective on shares of Valmont Industries from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, April 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $203.33.
In other news, Director Mogens C. Bay sold 25,000 shares of the stock in a transaction on Friday, February 19th. The shares were sold at an average price of $231.30, for a total transaction of $5,782,500.00. Following the transaction, the director now owns 288,221 shares in the company, valued at approximately $66,665,517.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Thomas Mitchell Parnell sold 143 shares of the stock in a transaction on Friday, February 19th. The stock was sold at an average price of $224.70, for a total transaction of $32,132.10. Following the transaction, the senior vice president now owns 2,470 shares in the company, valued at approximately $555,009. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,562 shares of company stock worth $13,914,674. 3.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Avestar Capital LLC boosted its holdings in Valmont Industries by 3.9% in the 1st quarter. Avestar Capital LLC now owns 1,271 shares of the industrial products company’s stock valued at $313,000 after purchasing an additional 48 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Valmont Industries by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 1,780 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 50 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Valmont Industries by 3.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,819 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 53 shares during the period. FCA Corp TX boosted its holdings in Valmont Industries by 0.3% in the 4th quarter. FCA Corp TX now owns 23,940 shares of the industrial products company’s stock valued at $4,188,000 after purchasing an additional 60 shares during the period. Finally, F&V Capital Management LLC raised its stake in shares of Valmont Industries by 0.4% in the 1st quarter. F&V Capital Management LLC now owns 22,863 shares of the industrial products company’s stock valued at $5,434,000 after buying an additional 90 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE VMI traded up $1.94 during trading hours on Tuesday, hitting $250.20. 1,438 shares of the stock were exchanged, compared to its average volume of 156,648. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.36 and a quick ratio of 1.68. The company’s 50 day moving average is $239.76 and its 200 day moving average is $199.88. The firm has a market capitalization of $5.32 billion, a P/E ratio of 37.90 and a beta of 1.16. Valmont Industries has a one year low of $98.00 and a one year high of $251.76.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, April 20th. The industrial products company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.45. Valmont Industries had a net margin of 5.06% and a return on equity of 14.25%. The firm had revenue of $774.89 million during the quarter, compared to the consensus estimate of $757.84 million. During the same period in the prior year, the firm earned $1.99 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Research analysts anticipate that Valmont Industries will post 7.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Friday, March 26th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 25th. This is an increase from Valmont Industries’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.80%. Valmont Industries’s dividend payout ratio is 28.33%.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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