DA Davidson Analysts Decrease Earnings Estimates for VMI

Valmont Industries, Inc. (NYSE:VMI) – Analysts at DA Davidson decreased their FY2024 earnings estimates for shares of Valmont Industries in a research note issued to investors on Thursday, October 24th. DA Davidson analyst B. Thielman now forecasts that the industrial products company will post earnings of $16.94 per share for the year, down from their prior estimate of $16.99. DA Davidson currently has a “Buy” rating and a $380.00 price target on the stock. The consensus estimate for Valmont Industries’ current full-year earnings is $16.84 per share.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned $4.12 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Valmont Industries Price Performance

VMI stock opened at $319.35 on Monday. Valmont Industries has a 12 month low of $189.05 and a 12 month high of $330.97. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $289.78 and a 200 day moving average price of $271.21. The stock has a market cap of $6.44 billion, a PE ratio of 21.69 and a beta of 1.02.

Institutional Investors Weigh In On Valmont Industries

Large investors have recently modified their holdings of the business. Earnest Partners LLC bought a new position in shares of Valmont Industries during the 2nd quarter worth approximately $91,878,000. Sei Investments Co. lifted its position in Valmont Industries by 794.2% during the second quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after acquiring an additional 175,961 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Valmont Industries by 39.3% during the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after acquiring an additional 73,084 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Valmont Industries by 69.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 161,605 shares of the industrial products company’s stock valued at $36,891,000 after acquiring an additional 65,970 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in Valmont Industries during the first quarter valued at approximately $8,776,000. Institutional investors own 87.84% of the company’s stock.

Insider Activity at Valmont Industries

In other news, VP R Andrew Massey sold 3,977 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares in the company, valued at approximately $2,963,520. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mogens C. Bay sold 17,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $316.48, for a total value of $5,380,160.00. Following the completion of the sale, the director now owns 154,730 shares in the company, valued at approximately $48,968,950.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP R Andrew Massey sold 3,977 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.75%. Valmont Industries’s payout ratio is 16.30%.

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.