Valmont Industries, Inc. (NYSE:VMI) Shares to Pay Quarterly Dividend of $0.77

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, October 26th. Investors of record on Thursday, December 24th will be paid a dividend of $0.77 per share by the industrial products company on Friday, January 15th. This represents a $3.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, December 24th.

Valmont Industries has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 1 years. Valmont Industries has a payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valmont Industries to earn $26.11 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 11.8%.

Valmont Industries Stock Down 1.6%

Shares of Valmont Industries stock opened at $428.00 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43. Valmont Industries has a 12-month low of $378.02 and a 12-month high of $585.71. The company has a market cap of $8.26 billion, a P/E ratio of 15.89, a PEG ratio of 0.98 and a beta of 1.34. The company’s fifty day simple moving average is $469.97 and its two-hundred day simple moving average is $477.13.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, topping the consensus estimate of $5.70 by $0.54. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $4.98 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts anticipate that Valmont Industries will post 23.27 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on VMI. Wall Street Zen upgraded Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Stifel Nicolaus upped their price target on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $587.00.

Valmont Industries Company Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.