Valmont Industries (VMI) Downgraded by Stifel Nicolaus to Hold
Stifel Nicolaus cut shares of Valmont Industries (NYSE:VMI) from a buy rating to a hold rating in a research note published on Monday morning. Stifel Nicolaus currently has $174.00 price objective on the industrial products company’s stock, down from their previous price objective of $177.00.
Several other equities research analysts have also weighed in on the company. Boenning Scattergood reissued an outperform rating on shares of Valmont Industries in a research report on Tuesday, September 5th. Zacks Investment Research lowered Valmont Industries from a hold rating to a sell rating in a research report on Tuesday, October 24th. Seaport Global Securities started coverage on Valmont Industries in a research report on Wednesday, September 6th. They set a buy rating and a $160.00 target price on the stock. Finally, BidaskClub lowered Valmont Industries from a sell rating to a strong sell rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $174.25.
Shares of Valmont Industries (VMI) traded down $5.25 on Monday, hitting $163.60. The stock had a trading volume of 207,900 shares, compared to its average volume of 130,455. The company has a quick ratio of 2.53, a current ratio of 3.50 and a debt-to-equity ratio of 0.65. Valmont Industries has a fifty-two week low of $135.95 and a fifty-two week high of $176.35. The stock has a market cap of $3,817.31, a PE ratio of 24.61, a PEG ratio of 2.42 and a beta of 1.06.
Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.04). Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The business had revenue of $680.78 million for the quarter, compared to analyst estimates of $652.65 million. During the same period last year, the business posted $1.48 EPS. Valmont Industries’s revenue was up 11.6% on a year-over-year basis. research analysts forecast that Valmont Industries will post 6.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, December 28th. Valmont Industries’s dividend payout ratio (DPR) is 17.90%.
In other Valmont Industries news, VP Vanessa Kay Brown sold 3,059 shares of Valmont Industries stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VMI. Global X Management Co. LLC increased its position in Valmont Industries by 220.0% during the second 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 increased its position in Valmont Industries by 85.6% during the second 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 increased its position in Valmont Industries by 0.6% during the second 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. Gofen & Glossberg LLC IL acquired a new position in Valmont Industries during the third quarter worth approximately $209,000. Finally, Verity Asset Management Inc. increased its position in Valmont Industries by 8.1% during the second 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. 85.28% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Valmont Industries (VMI) Downgraded by Stifel Nicolaus to Hold” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.watchlistnews.com/valmont-industries-vmi-downgraded-by-stifel-nicolaus-to-hold/1759500.html.
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.
Receive News & Ratings for Valmont Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.