Valmont Industries’ (VMI) “Buy” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Valmont Industries, Inc. (NYSE:VMI) in a report published on Tuesday. Stifel Nicolaus currently has a $183.00 price target on the industrial products company’s stock.
Several other equities analysts also recently commented on the company. Seaport Global Securities began coverage on Valmont Industries in a research report on Wednesday, September 6th. They issued a buy rating and a $160.00 price objective on the stock. Boenning Scattergood reaffirmed an outperform rating on shares of Valmont Industries in a research report on Tuesday, September 5th. BidaskClub downgraded Valmont Industries from a sell rating to a strong sell rating in a research report on Friday, August 25th. Finally, Zacks Investment Research cut Valmont Industries from a buy rating to a hold rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $173.67.
Shares of Valmont Industries (NYSE:VMI) opened at 158.95 on Tuesday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 19.69 and a beta of 0.99. The company has a 50-day moving average price of $152.94 and a 200-day moving average price of $151.18. Valmont Industries has a 52 week low of $120.65 and a 52 week high of $165.20.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The company had revenue of $712.70 million for the quarter, compared to the consensus estimate of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. Valmont Industries’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 EPS. Equities analysts anticipate that Valmont Industries will post $7.09 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 28th. Valmont Industries’s dividend payout ratio is 18.59%.
Hedge funds have recently modified their holdings of the business. Global X Management Co. LLC lifted its holdings in shares of Valmont Industries by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock worth $108,000 after buying an additional 495 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Valmont Industries by 85.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after buying an additional 599 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Valmont Industries by 0.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after buying an additional 8 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Valmont Industries in the 2nd quarter worth $212,000. Finally, Verity Asset Management Inc. lifted its holdings in shares of Valmont Industries by 8.1% in the 2nd quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock worth $238,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.
Valmont Industries Company Profile
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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