Analysts expect Valmont Industries, Inc. (NYSE:VMI) to announce $681.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Valmont Industries’ earnings, with the highest sales estimate coming in at $697.00 million and the lowest estimate coming in at $667.80 million. Valmont Industries reported sales of $680.78 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0%. The company is scheduled to report its next earnings report after the market closes on Tuesday, October 23rd.
According to Zacks, analysts expect that Valmont Industries will report full year sales of $2.79 billion for the current fiscal year, with estimates ranging from $2.76 billion to $2.86 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.93 billion, with estimates ranging from $2.84 billion to $3.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Valmont Industries.
Valmont Industries (NYSE:VMI) last posted its earnings results on Monday, July 23rd. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.04. The company had revenue of $682.41 million during the quarter, compared to analysts’ expectations of $709.92 million. Valmont Industries had a net margin of 3.74% and a return on equity of 13.89%. During the same quarter last year, the company posted $2.01 EPS.
A number of analysts have recently issued reports on VMI shares. Zacks Investment Research upgraded shares of Valmont Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine cut shares of Valmont Industries from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Boenning Scattergood cut shares of Valmont Industries from an “outperform” rating to a “neutral” rating in a research note on Friday, July 13th. Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Finally, TheStreet cut shares of Valmont Industries from a “b-” rating to a “c+” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Valmont Industries currently has an average rating of “Hold” and an average target price of $173.33.
Shares of NYSE VMI traded down $2.99 during mid-day trading on Tuesday, reaching $136.50. 75,883 shares of the company were exchanged, compared to its average volume of 104,929. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.20 and a current ratio of 2.83. The stock has a market cap of $3.10 billion, a PE ratio of 19.58, a P/E/G ratio of 1.97 and a beta of 1.00. Valmont Industries has a twelve month low of $135.00 and a twelve month high of $176.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is 21.52%.
In other Valmont Industries news, SVP John A. Kehoe sold 3,059 shares of Valmont Industries stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $137.50, for a total value of $420,612.50. Following the completion of the sale, the senior vice president now owns 2,911 shares in the company, valued at approximately $400,262.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. HRT Financial LLC acquired a new position in shares of Valmont Industries in the 2nd quarter valued at approximately $224,000. Public Employees Retirement System of Ohio raised its position in shares of Valmont Industries by 21.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,453 shares of the industrial products company’s stock valued at $2,179,000 after buying an additional 2,517 shares in the last quarter. Global X Management Co LLC raised its position in shares of Valmont Industries by 17.1% in the 2nd quarter. Global X Management Co LLC now owns 5,469 shares of the industrial products company’s stock valued at $824,000 after buying an additional 798 shares in the last quarter. WealthPLAN Partners LLC raised its position in shares of Valmont Industries by 53.3% in the 2nd quarter. WealthPLAN Partners LLC now owns 25,470 shares of the industrial products company’s stock valued at $3,839,000 after buying an additional 8,857 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Valmont Industries by 315.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 17,001 shares of the industrial products company’s stock valued at $460,000 after buying an additional 12,905 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.
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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