Valmont Industries (NYSE:VMI) Sets New 52-Week High – What’s Next?

Valmont Industries, Inc. (NYSE:VMI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $579.99 and last traded at $579.8560, with a volume of 57917 shares traded. The stock had previously closed at $570.31.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VMI shares. Wall Street Zen raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 31st. Weiss Ratings lowered Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. upped their price target on Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Zacks Research raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus increased their target price on Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Valmont Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.75.

Valmont Industries Price Performance

The stock has a market capitalization of $11.26 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. The business has a fifty day simple moving average of $503.54 and a 200 day simple moving average of $455.50. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Valmont Industries’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.32 earnings per share. On average, analysts expect that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries’s dividend payout ratio is presently 17.10%.

Insider Activity at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the director owned 112,309 shares in the company, valued at $55,294,213.06. The trade was a 13.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VMI. Community Bank N.A. bought a new stake in shares of Valmont Industries during the 3rd quarter worth $25,000. Elyxium Wealth LLC purchased a new stake in Valmont Industries during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Valmont Industries in the fourth quarter worth about $27,000. Leonteq Securities AG purchased a new position in Valmont Industries in the fourth quarter valued at about $30,000. Finally, State of Wyoming purchased a new position in Valmont Industries in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.