Valmont Industries (NYSE:VMI) Shares Gap Up After Better-Than-Expected Earnings

Valmont Industries, Inc. (NYSE:VMI) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $207.70, but opened at $225.41. Valmont Industries shares last traded at $236.18, with a volume of 81,053 shares.

The industrial products company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.08. Valmont Industries had a return on equity of 21.71% and a net margin of 3.83%. The firm had revenue of $977.83 million for the quarter, compared to the consensus estimate of $986.98 million. During the same quarter in the previous year, the company posted $3.54 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Wednesday, March 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 31.62%.

Wall Street Analyst Weigh In

VMI has been the topic of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and set a $249.00 price target on shares of Valmont Industries in a report on Monday, March 25th. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 23rd. Finally, DA Davidson lowered their price objective on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nicollet Investment Management Inc. grew its position in shares of Valmont Industries by 1.4% in the first quarter. Nicollet Investment Management Inc. now owns 5,054 shares of the industrial products company’s stock valued at $1,154,000 after purchasing an additional 71 shares during the last quarter. FORA Capital LLC grew its holdings in Valmont Industries by 347.3% in the 1st quarter. FORA Capital LLC now owns 4,366 shares of the industrial products company’s stock valued at $997,000 after buying an additional 3,390 shares during the last quarter. Nordea Investment Management AB increased its position in Valmont Industries by 14.3% in the 1st quarter. Nordea Investment Management AB now owns 13,928 shares of the industrial products company’s stock worth $3,205,000 after buying an additional 1,739 shares during the period. Wambolt & Associates LLC lifted its holdings in shares of Valmont Industries by 30.2% during the first quarter. Wambolt & Associates LLC now owns 4,539 shares of the industrial products company’s stock worth $1,024,000 after buying an additional 1,054 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Valmont Industries in the first quarter valued at approximately $316,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Stock Performance

The firm’s 50 day moving average price is $216.42 and its 200-day moving average price is $220.30. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 32.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.47 and a quick ratio of 1.56.

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.