Valmont Industries, Inc. (VMI) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Valmont Industries, Inc. (NYSE:VMI) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $165.50.
VMI has been the topic of several research reports. Zacks Investment Research upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Thursday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $171.00 target price on shares of Valmont Industries in a research report on Friday, July 14th. Seaport Global Securities initiated coverage on shares of Valmont Industries in a research report on Wednesday. They set a “buy” rating and a $160.00 target price on the stock. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a research report on Thursday, July 20th.
Several institutional investors have recently modified their holdings of VMI. Global X Management Co. LLC boosted its position in shares of Valmont Industries by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 495 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Valmont Industries by 85.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 599 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Valmont Industries by 0.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 8 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new stake in shares of Valmont Industries during the 1st quarter valued at about $205,000. Finally, Timber Hill LLC acquired a new stake in shares of Valmont Industries during the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 83.98% of the company’s stock.
Valmont Industries (NYSE:VMI) opened at 145.20 on Friday. The company has a market cap of $3.28 billion, a PE ratio of 17.99 and a beta of 0.98. Valmont Industries has a 12 month low of $120.65 and a 12 month high of $165.20. The stock’s 50 day moving average is $149.17 and its 200 day moving average is $150.77.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.05. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The company had revenue of $712.70 million for the quarter, compared to the consensus estimate of $668.06 million. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Equities analysts predict that Valmont Industries will post $7.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.375 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.03%. Valmont Industries’s dividend payout ratio (DPR) is currently 18.59%.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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