Valmont Industries Inc. (NYSE:VMI) announced a quarterly dividend on Wednesday, September 7th. Investors of record on Friday, September 30th will be given a dividend of 0.375 per share on Friday, October 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Wednesday, September 28th.
Shares of Valmont Industries (NYSE:VMI) opened at 129.25 on Tuesday. The firm has a market cap of $2.93 billion, a P/E ratio of 52.56 and a beta of 1.08. The company has a 50 day moving average price of $130.51 and a 200-day moving average price of $131.04. Valmont Industries has a 52-week low of $92.33 and a 52-week high of $145.94.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. Valmont Industries had a return on equity of 13.91% and a net margin of 2.26%. The firm earned $640.20 million during the quarter, compared to the consensus estimate of $648.54 million. During the same period last year, the business posted $1.61 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. On average, analysts expect that Valmont Industries will post $6.33 earnings per share for the current fiscal year.
In other news, Director Clark T. Jr. Randt sold 381 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $130.10, for a total transaction of $49,568.10. Following the transaction, the director now owns 6,979 shares of the company’s stock, valued at approximately $907,967.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its position in Valmont Industries by 1.1% in the second quarter. Hsbc Holdings PLC now owns 3,014 shares of the company’s stock worth $407,000 after buying an additional 33 shares during the period. Baird Financial Group Inc. boosted its position in shares of Valmont Industries by 0.6% in the second quarter. Baird Financial Group Inc. now owns 6,084 shares of the company’s stock valued at $823,000 after buying an additional 35 shares during the last quarter. Raymond James & Associates boosted its position in shares of Valmont Industries by 0.3% in the second quarter. Raymond James & Associates now owns 12,354 shares of the company’s stock valued at $1,671,000 after buying an additional 40 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Valmont Industries by 3.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,587 shares of the company’s stock valued at $485,000 after buying an additional 136 shares during the last quarter. Finally, Reliance Trust Co. of Delaware boosted its position in shares of Valmont Industries by 7.4% in the second quarter. Reliance Trust Co. of Delaware now owns 2,626 shares of the company’s stock valued at $355,000 after buying an additional 181 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. Credit Suisse Group AG reiterated an “underperform” rating on shares of Valmont Industries in a report on Wednesday, July 6th. Zacks Investment Research upgraded Valmont Industries from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, TheStreet upgraded Valmont Industries from a “hold” rating to a “buy” rating in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $124.67.
Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
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