Valmont Industries (NYSE:VMI) Reaches New 12-Month High – What’s Next?
by Sarita Garza · The Markets DailyValmont Industries, Inc. (NYSE:VMI – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $555.00 and last traded at $557.50, with a volume of 196 shares trading hands. The stock had previously closed at $546.81.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on VMI. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 31st. Finally, DA Davidson lifted their target price on shares of Valmont Industries from $415.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $525.25.
Get Our Latest Analysis on Valmont Industries
Valmont Industries Stock Up 0.9%
The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.70 billion, a P/E ratio of 30.63, a PEG ratio of 1.26 and a beta of 1.34. The firm has a 50-day simple moving average of $488.37 and a two-hundred day simple moving average of $450.15.
Valmont Industries (NYSE:VMI – Get Free Report) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $994.85 million. During the same quarter in the previous year, the business posted $4.32 earnings per share. Valmont Industries’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that Valmont Industries, Inc. will post 22.83 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries’s dividend payout ratio is presently 17.10%.
Insider Activity at Valmont Industries
In related news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.
Hedge Funds Weigh In On Valmont Industries
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Community Bank N.A. acquired a new stake in shares of Valmont Industries during the 3rd quarter worth $25,000. Elyxium Wealth LLC acquired a new position in Valmont Industries in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Valmont Industries during the fourth quarter worth about $27,000. Leonteq Securities AG bought a new stake in Valmont Industries during the fourth quarter worth about $30,000. Finally, State of Wyoming acquired a new stake in Valmont Industries during the fourth quarter worth about $34,000. 87.84% of the stock is owned by institutional investors and hedge funds.
Valmont Industries Company Profile
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.