Valmont Industries (NYSE:VMI) Reaches New 1-Year High – Here’s What Happened

Valmont Industries, Inc. (NYSE:VMI)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $508.86 and last traded at $508.2260, with a volume of 75143 shares changing hands. The stock had previously closed at $491.68.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Valmont Industries in a research report on Friday, March 27th. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. DA Davidson boosted their price objective on Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Valmont Industries from $480.00 to $510.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Stifel Nicolaus boosted their price objective on Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Valmont Industries has an average rating of “Moderate Buy” and an average price target of $500.33.

Valmont Industries Price Performance

The firm’s fifty day moving average price is $431.57 and its 200 day moving average price is $425.63. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.02 billion, a PE ratio of 28.50 and a beta of 1.24.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.32 earnings per share. As a group, equities analysts expect that Valmont Industries, Inc. will post 22.93 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, June 26th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries’s dividend payout ratio is presently 17.10%.

Insider Transactions at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the sale, the director owned 112,309 shares of the company’s stock, valued at $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Valmont Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMI. Azzad Asset Management Inc. ADV purchased a new stake in shares of Valmont Industries in the third quarter valued at $739,000. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Valmont Industries in the third quarter valued at $1,658,000. Congress Asset Management Co. raised its stake in shares of Valmont Industries by 14.1% in the fourth quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock valued at $34,336,000 after acquiring an additional 10,518 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Valmont Industries by 441.2% in the third quarter. Asset Management One Co. Ltd. now owns 4,941 shares of the industrial products company’s stock valued at $1,916,000 after acquiring an additional 4,028 shares during the period. Finally, Cornerstone Planning Group LLC purchased a new stake in shares of Valmont Industries in the third quarter valued at $5,663,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.