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

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

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

Insider Activity at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the transaction, the director directly owned 112,309 shares in the company, valued at $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Valmont Industries

Large investors have recently added to or reduced their stakes in the business. Congress Asset Management Co. boosted its position in shares of 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 bought a new position in shares of Valmont Industries in the third quarter worth approximately $1,749,000. Dakota Wealth Management purchased a new stake in Valmont Industries in the fourth quarter valued at approximately $581,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Valmont Industries by 6,762.8% in the fourth 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 purchasing an additional 8,724 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Valmont Industries by 882.8% during the third quarter. Schroder Investment Management Group now owns 98,962 shares of the industrial products company’s stock valued at $37,829,000 after purchasing an additional 88,893 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Trading Up 1.2%

NYSE VMI opened at $546.74 on Friday. 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 has a 52 week low of $326.22 and a 52 week high of $585.71. The business has a 50 day moving average price of $535.87 and a 200-day moving average price of $470.19. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 1.25 and a beta of 1.33.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $994.85 million. During the same period last year, the business earned $4.32 EPS. Valmont Industries’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that Valmont Industries will post 22.83 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries’s dividend payout ratio (DPR) is presently 17.10%.

About Valmont Industries

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.