Valmont Industries, Inc. (NYSE:VMI) Declares $0.68 Quarterly Dividend

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, April 28th, RTT News reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.68 per share by the industrial products company on Tuesday, July 15th. This represents a $2.72 annualized dividend and a yield of 0.93%.

Valmont Industries has increased its dividend payment by an average of 6.3% per year over the last three years. Valmont Industries has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valmont Industries to earn $19.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 13.6%.

Valmont Industries Trading Up 0.1 %

Shares of Valmont Industries stock opened at $293.20 on Tuesday. The business has a fifty day simple moving average of $305.19 and a two-hundred day simple moving average of $319.34. Valmont Industries has a 1 year low of $202.01 and a 1 year high of $379.22. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 17.07 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.08. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $969.31 million during the quarter, compared to the consensus estimate of $976.04 million. Research analysts forecast that Valmont Industries will post 18.07 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on VMI. DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Wednesday, February 19th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. William Blair upgraded shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 23rd. Finally, StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th.

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.