Shares of Valmont Industries, Inc. (NYSE:VMI) have been assigned an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $171.00.
VMI has been the topic of several recent research reports. William Blair reaffirmed a “market perform” rating on shares of Valmont Industries in a report on Sunday, April 23rd. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Stifel Nicolaus lifted their target price on Valmont Industries from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Sunday, April 23rd.
Valmont Industries (VMI) opened at 150.45 on Thursday. Valmont Industries has a 1-year low of $120.65 and a 1-year high of $165.20. The stock has a market capitalization of $3.40 billion, a PE ratio of 18.64 and a beta of 0.97. The stock’s 50 day moving average price is $151.47 and its 200 day moving average price is $150.51.
Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The company had revenue of $712.70 million for the quarter, compared to the consensus estimate of $668.06 million. During the same quarter last year, the business posted $1.85 EPS. Valmont Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts forecast that Valmont Industries will post $7.10 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Wednesday, June 28th. Valmont Industries’s payout ratio is 18.59%.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Valmont Industries by 13,061.6% in the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after buying an additional 1,751,426 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Valmont Industries by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 1,377,502 shares of the industrial products company’s stock worth $214,201,000 after buying an additional 23,156 shares during the last quarter. State Street Corp raised its stake in shares of Valmont Industries by 1.6% in the first quarter. State Street Corp now owns 592,014 shares of the industrial products company’s stock worth $92,059,000 after buying an additional 9,182 shares during the last quarter. FMR LLC raised its stake in shares of Valmont Industries by 0.4% in the first quarter. FMR LLC now owns 503,021 shares of the industrial products company’s stock worth $78,220,000 after buying an additional 2,221 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Valmont Industries by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 432,874 shares of the industrial products company’s stock worth $64,758,000 after buying an additional 19,215 shares during the last quarter. 84.97% of the stock is owned by institutional investors and hedge funds.
About Valmont Industries
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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