Valmont Industries Inc. (VMI) Sees Unusually-High Trading Volume
Shares of Valmont Industries Inc. (NYSE:VMI) saw strong trading volume on Tuesday . 97,275 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 99,351 shares.The stock last traded at $128.61 and had previously closed at $127.55.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Credit Suisse Group AG reiterated an “underperform” rating on shares of Valmont Industries in a research note on Wednesday, July 6th. Finally, TheStreet upgraded Valmont Industries from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Valmont Industries currently has an average rating of “Hold” and an average price target of $124.67.
The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 51.66 and a beta of 1.08. The firm’s 50 day moving average price is $130.37 and its 200-day moving average price is $130.67.
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Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The firm earned $640.20 million during the quarter, compared to analyst estimates of $648.54 million. Valmont Industries had a net margin of 2.26% and a return on equity of 13.91%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 EPS. Analysts anticipate that Valmont Industries Inc. will post $6.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.18%. Valmont Industries’s dividend payout ratio (DPR) is currently 60.48%.
In other news, Director Clark T. Jr. Randt sold 381 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $130.10, for a total transaction of $49,568.10. Following the completion of the transaction, the director now directly owns 6,979 shares in the company, valued at approximately $907,967.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in Valmont Industries by 233.8% in the first quarter. Goldman Sachs Group Inc. now owns 58,454 shares of the company’s stock worth $7,239,000 after buying an additional 40,942 shares during the period. UBS Group AG raised its position in Valmont Industries by 191.4% in the first quarter. UBS Group AG now owns 18,830 shares of the company’s stock worth $2,332,000 after buying an additional 12,367 shares during the period. Canada Pension Plan Investment Board raised its position in Valmont Industries by 5,902.8% in the first quarter. Canada Pension Plan Investment Board now owns 72,034 shares of the company’s stock worth $8,921,000 after buying an additional 70,834 shares during the period. JPMorgan Chase & Co. raised its position in Valmont Industries by 152.1% in the first quarter. JPMorgan Chase & Co. now owns 269,481 shares of the company’s stock worth $33,373,000 after buying an additional 162,600 shares during the period. Finally, BlackRock Group LTD raised its position in Valmont Industries by 21.3% in the first quarter. BlackRock Group LTD now owns 14,612 shares of the company’s stock worth $1,810,000 after buying an additional 2,561 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
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