Valmont Industries (NYSE:VMI) Hits New 12-Month High – What’s Next?
by Jessica Moore · The Cerbat GemValmont Industries, Inc. (NYSE:VMI – Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $447.25 and last traded at $445.23, with a volume of 65056 shares trading hands. The stock had previously closed at $433.64.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on VMI. JPMorgan Chase & Co. began coverage on Valmont Industries in a report on Friday, September 26th. They set an “overweight” rating and a $480.00 price objective on the stock. DA Davidson upped their price target on shares of Valmont Industries from $400.00 to $415.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus increased their price target on shares of Valmont Industries from $475.00 to $491.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Valmont Industries in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $462.00.
Get Our Latest Report on Valmont Industries
Valmont Industries Stock Performance
The company has a market capitalization of $8.75 billion, a PE ratio of 38.25 and a beta of 1.20. The stock’s fifty day simple moving average is $413.33 and its 200-day simple moving average is $390.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 2.26.
Valmont Industries (NYSE:VMI – Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $4.98 earnings per share for the quarter, beating analysts’ consensus estimates of $4.64 by $0.34. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Valmont Industries had a net margin of 6.33% and a return on equity of 22.92%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.11 earnings per share. As a group, equities analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, December 26th were issued a $0.68 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.72 annualized dividend and a yield of 0.6%. Valmont Industries’s payout ratio is 23.43%.
Insider Activity
In other news, insider James Christopher Colwell sold 375 shares of Valmont Industries stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $410.68, for a total value of $154,005.00. Following the completion of the sale, the insider owned 7,286 shares of the company’s stock, valued at $2,992,214.48. The trade was a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Valmont Industries
A number of institutional investors have recently added to or reduced their stakes in VMI. Community Bank N.A. purchased a new stake in shares of Valmont Industries during the 3rd quarter worth about $25,000. First Horizon Corp purchased a new stake in Valmont Industries during the third quarter worth approximately $29,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Valmont Industries in the third quarter worth $36,000. Farther Finance Advisors LLC raised its stake in shares of Valmont Industries by 357.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 75 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Valmont Industries by 93.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 128 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.
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.