Valmont Industries (NYSE:VMI) Hits New 1-Year High Following Earnings Beat

Valmont Industries, Inc. (NYSE:VMI) shares hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $356.97 and last traded at $356.71, with a volume of 48596 shares trading hands. The stock had previously closed at $320.79.

The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.21. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. During the same period last year, the business earned $3.18 EPS.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.68 per share. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is currently 16.30%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Wednesday. Finally, Stifel Nicolaus lifted their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the transaction, the director now directly owns 131,730 shares in the company, valued at $45,963,231.60. This represents a 13.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Valmont Industries

A number of hedge funds and other institutional investors have recently modified their holdings of VMI. Exchange Traded Concepts LLC bought a new position in shares of Valmont Industries during the third quarter worth $39,000. Blue Trust Inc. raised its stake in shares of Valmont Industries by 5,505.6% in the third quarter. Blue Trust Inc. now owns 1,009 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 991 shares during the period. Raymond James & Associates raised its stake in shares of Valmont Industries by 3.0% in the third quarter. Raymond James & Associates now owns 13,934 shares of the industrial products company’s stock valued at $4,040,000 after acquiring an additional 407 shares during the period. Signaturefd LLC raised its stake in shares of Valmont Industries by 35.4% in the third quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 56 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Valmont Industries by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock valued at $674,000 after acquiring an additional 35 shares during the period. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Trading Down 2.7 %

The firm has a market cap of $7.35 billion, a PE ratio of 24.92 and a beta of 1.05. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $323.00 and its two-hundred day moving average price is $311.36.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.