Valmont Industries (NYSE:VMI) Sets New 12-Month High – Here’s What Happened

Valmont Industries, Inc. (NYSE:VMI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $522.00 and last traded at $518.9790, with a volume of 205253 shares trading hands. The stock had previously closed at $507.08.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Stifel Nicolaus upped their price objective on Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Valmont Industries in a research note on Friday, March 27th. DA Davidson upped their price objective on Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $500.33.

Valmont Industries Price Performance

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 business has a 50-day moving average price of $433.43 and a 200 day moving average price of $427.34. The stock has a market cap of $10.07 billion, a PE ratio of 28.82 and a beta of 1.36.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating 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 firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $994.85 million. During the same quarter in the prior year, the firm earned $4.32 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Valmont Industries, Inc. will post 22.78 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 of this dividend is Friday, June 26th. Valmont Industries’s dividend payout ratio is currently 17.10%.

Insider Activity at Valmont Industries

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VMI. Azzad Asset Management Inc. ADV purchased a new stake in Valmont Industries during the 3rd quarter worth about $739,000. Jackson Creek Investment Advisors LLC purchased a new stake in Valmont Industries during the 3rd quarter worth about $1,658,000. Congress Asset Management Co. lifted its holdings in 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 worth $34,336,000 after purchasing an additional 10,518 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Valmont Industries by 441.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,941 shares of the industrial products company’s stock worth $1,916,000 after purchasing an additional 4,028 shares in the last quarter. Finally, Cornerstone Planning Group LLC purchased a new stake in Valmont Industries during the 3rd quarter worth about $5,663,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.