Valmont Industries, Inc. Declares Quarterly Dividend of $0.38 (VMI)
Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Wednesday, September 6th, Zacks reports. Investors of record on Friday, September 29th will be given a dividend of 0.375 per share by the industrial products company on Monday, October 16th. This represents a $1.50 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, September 28th.
Valmont Industries has increased its dividend payment by an average of 16.4% per year over the last three years. Valmont Industries has a dividend payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Valmont Industries to earn $8.01 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 18.7%.
Valmont Industries (NYSE:VMI) traded down 1.146% during midday trading on Thursday, reaching $144.425. 13,835 shares of the company were exchanged. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.890 and a beta of 0.98. Valmont Industries has a 52-week low of $120.65 and a 52-week high of $165.20. The company has a 50 day moving average of $149.39 and a 200-day moving average of $150.81.
Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The firm had revenue of $712.70 million during the quarter, compared to analysts’ expectations of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. Valmont Industries’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 earnings per share. On average, equities research analysts anticipate that Valmont Industries will post $7.09 earnings per share for the current fiscal year.
Several research analysts have issued reports on VMI shares. BidaskClub upgraded Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a research report on Friday, May 12th. Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a research report on Thursday, July 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $171.00 price objective on shares of Valmont Industries in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $165.33.
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About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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