Valmont Industries, Inc. (NYSE:VMI) Receives Consensus Rating of “Buy” from Brokerages

Valmont Industries, Inc. (NYSE:VMI) has earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $573.75.

A number of equities research analysts have issued reports on VMI shares. Zacks Research raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Stifel Nicolaus raised their target price on shares of Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lifted their target price on shares of Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th.

Insider Buying and Selling at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is owned by insiders.

Institutional Investors Weigh In On Valmont Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. boosted its stake in Valmont Industries by 14.1% during the 4th quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock valued at $34,336,000 after acquiring an additional 10,518 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Valmont Industries in the 3rd quarter worth approximately $1,749,000. Dakota Wealth Management acquired a new position in shares of Valmont Industries in the 4th quarter worth approximately $581,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Valmont Industries by 6,762.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company’s stock valued at $3,562,000 after acquiring an additional 8,724 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Valmont Industries by 882.8% in the 3rd quarter. Schroder Investment Management Group now owns 98,962 shares of the industrial products company’s stock valued at $37,829,000 after acquiring an additional 88,893 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of NYSE:VMI opened at $554.87 on Friday. The business has a fifty day simple moving average of $531.77 and a 200-day simple moving average of $465.88. Valmont Industries has a 52 week low of $326.22 and a 52 week high of $585.71. The company has a market cap of $10.77 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.28 and a beta of 1.33. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.32 EPS. Equities research analysts forecast that Valmont Industries will post 22.83 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries’s payout ratio is currently 17.10%.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.