Valmont Industries Inc. Plans Quarterly Dividend of $0.38 (VMI)
Valmont Industries (NYSE:VMI) announced a quarterly dividend on Tuesday, May 13th, Analyst Ratings News reports. Stockholders of record on Friday, June 27th will be paid a dividend of 0.375 per share on Tuesday, July 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.00%.
A number of research firms have recently commented on VMI. Analysts at DA Davidson reiterated a “buy” rating on shares of Valmont Industries in a research note on Wednesday, April 23rd. They now have a $190.00 price target on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Valmont Industries in a research note on Wednesday, March 5th. They now have a $154.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $173.00.
Shares of Valmont Industries (NYSE:VMI) opened at 150.41 on Wednesday. Valmont Industries has a one year low of $129.00 and a one year high of $157.99. The stock’s 50-day moving average is $149.1 and its 200-day moving average is $146.8. The company has a market cap of $4.043 billion and a price-to-earnings ratio of 15.86.
Valmont Industries (NYSE:VMI) last released its earnings data on Tuesday, April 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $751.74 million for the quarter, compared to the consensus estimate of $793.75 million. During the same quarter in the previous year, the company posted $2.89 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, analysts predict that Valmont Industries will post $10.31 earnings per share for the current fiscal year.
Valmont Industries, Inc is a global producer of fabricated metal products. The Company operates in four segments: Engineered Infrastructure Products, which consists of the manufacture of engineered metal structures and components for the global lighting and traffic, wireless communication, roadway safety and access systems applications; Utility Support Structures, which consists of the manufacture of engineered steel and concrete structures for the global utility industry; Coatings, which consists of galvanizing, anodizing and powder coating services on a global basis, and Irrigation, which consists of the manufacture of agricultural irrigation equipment and related parts and services for the global agricultural industry.
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