Stifel Nicolaus Raises Valmont Industries (NYSE:VMI) Price Target to $387.00

Valmont Industries (NYSE:VMI) had its price objective boosted by Stifel Nicolaus from $382.00 to $387.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Separately, DA Davidson increased their price objective on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

Valmont Industries Stock Up 0.0 %

Shares of NYSE VMI opened at $342.33 on Friday. Valmont Industries has a 12-month low of $202.01 and a 12-month high of $354.13. The firm’s 50-day simple moving average is $327.21 and its 200 day simple moving average is $305.11. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 23.26 and a beta of 1.05.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. The company 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 23.10%. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.12 earnings per share. On average, research analysts expect that Valmont Industries will post 16.85 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 27th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, December 27th. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Insider Transactions at Valmont Industries

In other news, Director Daas Kaj Den sold 1,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $338.78, for a total value of $338,780.00. Following the completion of the sale, the director now directly owns 8,644 shares of the company’s stock, valued at $2,928,414.32. This represents a 10.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mogens C. Bay sold 20,000 shares of Valmont Industries stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now directly owns 131,730 shares in the company, valued at $45,963,231.60. The trade was a 13.18 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Valmont Industries

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in 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 buying an additional 54 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Valmont Industries in the third quarter worth about $35,000. Exchange Traded Concepts LLC acquired a new stake in shares of Valmont Industries during the third quarter worth about $39,000. Quarry LP lifted its holdings in shares of Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 134 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Valmont Industries in the 3rd quarter valued at approximately $58,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

About Valmont Industries

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.