Valmont Industries (NYSE:VMI) – Equities researchers at William Blair cut their Q2 2018 earnings estimates for Valmont Industries in a report released on Friday, April 20th. William Blair analyst B. Drab now expects that the industrial products company will post earnings per share of $2.20 for the quarter, down from their previous forecast of $2.32. William Blair also issued estimates for Valmont Industries’ Q3 2018 earnings at $1.84 EPS.
Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $181.00 price objective (up previously from $174.00) on shares of Valmont Industries in a report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Seaport Global Securities downgraded shares of Valmont Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Valmont Industries in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Valmont Industries has a consensus rating of “Hold” and an average price target of $169.00.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, April 18th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.07. The company had revenue of $698.68 million during the quarter, compared to the consensus estimate of $682.96 million. Valmont Industries had a net margin of 4.15% and a return on equity of 14.11%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, March 28th. Valmont Industries’s payout ratio is currently 21.52%.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Valmont Industries by 1.4% in the fourth quarter. BlackRock Inc. now owns 1,824,308 shares of the industrial products company’s stock worth $302,561,000 after purchasing an additional 25,187 shares during the period. Wells Fargo & Company MN raised its position in Valmont Industries by 36.9% in the fourth quarter. Wells Fargo & Company MN now owns 149,879 shares of the industrial products company’s stock worth $24,858,000 after acquiring an additional 40,424 shares in the last quarter. Swiss National Bank raised its position in Valmont Industries by 1.9% in the fourth quarter. Swiss National Bank now owns 38,500 shares of the industrial products company’s stock worth $6,385,000 after acquiring an additional 700 shares in the last quarter. Rockefeller Financial Services Inc. bought a new stake in Valmont Industries in the fourth quarter worth about $1,795,000. Finally, New Mexico Educational Retirement Board bought a new stake in Valmont Industries in the fourth quarter worth about $929,000. 87.05% of the stock is owned by institutional investors and hedge funds.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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