Valmont Industries (NYSE:VMI) – DA Davidson boosted their FY2018 earnings estimates for shares of Valmont Industries in a research note issued to investors on Thursday, April 19th. DA Davidson analyst B. Thielman now forecasts that the industrial products company will post earnings of $8.07 per share for the year, up from their prior forecast of $7.96.
Several other brokerages also recently commented on VMI. Stifel Nicolaus reiterated a “hold” rating and set a $181.00 price target (up from $174.00) on shares of Valmont Industries in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. 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 reiterated a “buy” rating and set a $185.00 price target on shares of Valmont Industries in a report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $169.00.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, April 18th. The industrial products company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. The company had revenue of $698.68 million for 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 firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS.
Institutional investors have recently added to or reduced their stakes in the business. Clarus Wealth Advisors purchased a new stake in Valmont Industries in the 4th quarter valued at about $214,000. State of Alaska Department of Revenue purchased a new stake in Valmont Industries in the 4th quarter valued at about $215,000. BlueCrest Capital Management Ltd purchased a new stake in Valmont Industries in the 4th quarter valued at about $253,000. Global X Management Co. LLC boosted its position in Valmont Industries by 75.0% in the 4th quarter. Global X Management Co. LLC now owns 1,575 shares of the industrial products company’s stock valued at $261,000 after buying an additional 675 shares during the period. Finally, Xact Kapitalforvaltning AB purchased a new stake in Valmont Industries in the 4th quarter valued at about $309,000. 88.08% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were issued a dividend of $0.375 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.50 annualized dividend and a yield of 1.05%. Valmont Industries’s payout ratio is 21.52%.
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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