Valmont Industries, Inc. (NYSE:VMI) Announces $0.60 Quarterly Dividend

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.60 per share by the industrial products company on Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th.

Valmont Industries has increased its dividend payment by an average of 10.1% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Valmont Industries has a dividend payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valmont Industries to earn $16.48 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 14.6%.

Valmont Industries Trading Down 0.5 %

NYSE:VMI traded down $1.22 during mid-day trading on Tuesday, hitting $246.50. 229,050 shares of the stock traded hands, compared to its average volume of 173,563. The company has a quick ratio of 1.65, a current ratio of 2.64 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 32.64 and a beta of 1.05. The firm’s 50 day moving average is $217.63 and its two-hundred day moving average is $220.26. Valmont Industries has a 52 week low of $188.63 and a 52 week high of $303.57.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.24 by $1.08. Valmont Industries had a net margin of 3.83% and a return on equity of 22.14%. The firm had revenue of $977.83 million during the quarter, compared to analysts’ expectations of $986.98 million. During the same quarter in the prior year, the company earned $3.54 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that Valmont Industries will post 15.9 earnings per share for the current year.

Wall Street Analyst Weigh In

VMI has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $249.00 target price on shares of Valmont Industries in a research report on Monday, March 25th. DA Davidson decreased their price target on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, StockNews.com raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 23rd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Valmont Industries has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

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.