Valmont Industries (NYSE:VMI) Price Target Raised to $620.00

Valmont Industries (NYSE:VMI) had its target price increased by JPMorgan Chase & Co. from $600.00 to $620.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus upped their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings raised Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Wall Street Zen upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, Oppenheimer set a $600.00 price objective on Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $587.00.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $486.07 on Wednesday. Valmont Industries has a 52 week low of $353.41 and a 52 week high of $585.71. The business’s 50 day moving average price is $538.15 and its 200 day moving average price is $478.27. The company has a quick ratio of 1.59, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.43 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.12 and a beta of 1.33.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm posted $4.88 EPS. Valmont Industries’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Valmont Industries will post 22.96 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Friday, June 26th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, June 26th. Valmont Industries’s dividend payout ratio (DPR) is currently 17.10%.

Institutional Investors Weigh In On Valmont Industries

Several hedge funds have recently modified their holdings of VMI. Finivi Inc. purchased a new position in shares of Valmont Industries in the 2nd quarter valued at about $765,000. Trust Point Inc. purchased a new position in Valmont Industries during the second quarter worth approximately $204,000. Elevation Wealth Partners LLC grew its holdings in Valmont Industries by 179.2% in the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 43 shares during the period. 55 North Private Wealth LLC purchased a new stake in shares of Valmont Industries in the second quarter valued at approximately $219,000. Finally, GAMMA Investing LLC increased its position in shares of Valmont Industries by 13.8% in the second quarter. GAMMA Investing LLC now owns 346 shares of the industrial products company’s stock valued at $200,000 after buying an additional 42 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

About Valmont Industries

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.