Valmont Industries (NYSE:VMI) Releases Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Valmont Industries (NYSE:VMI) posted its quarterly earnings results on Tuesday. The industrial products company reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.76 by $0.38, RTT News reports. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.During the same quarter in the prior year, the firm posted $4.88 earnings per share.

Valmont Industries Stock Performance

Shares of Valmont Industries stock opened at $526.43 on Tuesday. The company has a market capitalization of $10.22 billion, a PE ratio of 29.23, a PEG ratio of 1.23 and a beta of 1.33. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $539.79 and its 200 day simple moving average is $476.36. Valmont Industries has a 12 month low of $331.90 and a 12 month high of $585.71.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Friday, June 26th were given a $0.77 dividend. The ex-dividend date was Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries’s dividend payout ratio is currently 17.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $582.00.

Insider Transactions at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. This represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Valmont Industries

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in Valmont Industries by 118.8% in the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after acquiring an additional 153,418 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Valmont Industries by 179.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company’s stock worth $38,320,000 after acquiring an additional 75,377 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Valmont Industries by 980.4% during the 4th quarter. Corient Private Wealth LLC now owns 78,040 shares of the industrial products company’s stock worth $31,397,000 after acquiring an additional 70,817 shares in the last quarter. Amundi raised its holdings in shares of Valmont Industries by 49.7% in the third quarter. Amundi now owns 154,629 shares of the industrial products company’s stock valued at $59,989,000 after purchasing an additional 51,309 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Valmont Industries by 54.4% in the third quarter. UBS Group AG now owns 138,812 shares of the industrial products company’s stock worth $53,822,000 after purchasing an additional 48,929 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.