Valmont Industries (NYSE:VMI) Hits New 1-Year High After Strong Earnings

Valmont Industries, Inc. (NYSE:VMI) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $299.56 and last traded at $297.41, with a volume of 44262 shares traded. The stock had previously closed at $270.90.

The industrial products company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.72. Valmont Industries had a net margin of 3.83% and a return on equity of 22.14%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is currently 31.62%.

Analyst Ratings Changes

VMI has been the topic of a number of analyst reports. StockNews.com upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. Stifel Nicolaus upped their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.00.

Institutional Investors Weigh In On Valmont Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of VMI. Vanguard Group Inc. boosted its stake in shares of Valmont Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company’s stock valued at $490,407,000 after purchasing an additional 54,189 shares in the last quarter. Impax Asset Management Group plc increased its position in Valmont Industries by 0.6% in the 4th quarter. Impax Asset Management Group plc now owns 802,356 shares of the industrial products company’s stock valued at $187,358,000 after acquiring an additional 5,109 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Valmont Industries by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 401,313 shares of the industrial products company’s stock worth $93,711,000 after buying an additional 17,631 shares during the period. King Luther Capital Management Corp increased its stake in shares of Valmont Industries by 3.7% in the fourth quarter. King Luther Capital Management Corp now owns 386,624 shares of the industrial products company’s stock valued at $90,281,000 after buying an additional 13,756 shares during the period. Finally, Copeland Capital Management LLC raised its position in shares of Valmont Industries by 36.9% during the fourth quarter. Copeland Capital Management LLC now owns 295,350 shares of the industrial products company’s stock worth $68,967,000 after acquiring an additional 79,647 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

The stock has a 50 day moving average of $265.97 and a 200 day moving average of $239.31. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 38.42 and a beta of 1.03. The company has a quick ratio of 1.65, a current ratio of 2.64 and a debt-to-equity ratio of 0.79.

Valmont Industries Company Profile

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.