Valmont Industries (NYSE:VMI) Sets New 52-Week High Following Better-Than-Expected Earnings

Valmont Industries, Inc. (NYSE:VMI)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $313.79 and last traded at $313.79, with a volume of 15790 shares. The stock had previously closed at $294.94.

The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate of $4.00 by $0.11. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 EPS.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VMI. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson boosted their price target on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price objective on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $370.00.

Insiders Place Their Bets

In other news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of Valmont Industries

A number of hedge funds have recently made changes to their positions in VMI. L. Roy Papp & Associates LLP grew its holdings in Valmont Industries by 1.0% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 13,962 shares of the industrial products company’s stock valued at $4,048,000 after purchasing an additional 137 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Valmont Industries by 3.8% during the third quarter. State of Alaska Department of Revenue now owns 2,342 shares of the industrial products company’s stock valued at $679,000 after acquiring an additional 85 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Valmont Industries by 69.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 15,250 shares of the industrial products company’s stock valued at $4,390,000 after acquiring an additional 6,250 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Valmont Industries by 1.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 35 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Valmont Industries by 35.4% in the third quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

The business has a fifty day moving average of $287.45 and a 200 day moving average of $268.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The stock has a market cap of $6.47 billion, a PE ratio of 21.80 and a beta of 1.02.

About Valmont Industries

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.