Valmont Industries (NYSE:VMI) Sets New 52-Week High Following Better-Than-Expected Earnings

Valmont Industries, Inc. (NYSE:VMI)’s share price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $313.79 and last traded at $313.79, with a volume of 15790 shares changing hands. The stock had previously closed at $294.94.

The industrial products company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $4.12 EPS.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.75%. Valmont Industries’s dividend payout ratio is currently 16.30%.

Analyst Ratings Changes

VMI has been the topic of several recent analyst reports. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their price target on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday. Finally, DA Davidson increased their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $370.00.

Insider Transactions at Valmont Industries

In other news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the sale, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Valmont Industries

Several institutional investors and hedge funds have recently modified their holdings of VMI. GAMMA Investing LLC raised its position in shares of Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Valmont Industries by 2,060.0% in the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 103 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Valmont Industries in the third quarter valued at $39,000. Quarry LP boosted its stake in shares of Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 134 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in Valmont Industries during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Down 1.4 %

The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 21.80 and a beta of 1.02. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $287.45 and its two-hundred day moving average is $268.48.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.