Valmont Industries (NYSE:VMI) Reaches New 52-Week High After Earnings Beat

Valmont Industries, Inc. (NYSE:VMI) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $313.79 and last traded at $313.79, with a volume of 15790 shares trading hands. The stock had previously closed at $294.94.

The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $4.12 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.74%. Valmont Industries’s payout ratio is 31.62%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson boosted their price target on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus boosted their price target on shares of Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $332.50.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Valmont Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 54 shares during the period. Mather Group LLC. raised its holdings in Valmont Industries by 2,060.0% during the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after buying an additional 103 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Valmont Industries during the 3rd quarter worth about $39,000. Quarry LP raised its holdings in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock worth $50,000 after buying an additional 134 shares during the period. Finally, Versant Capital Management Inc acquired a new position in shares of Valmont Industries in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Stock Up 10.3 %

The company has a market cap of $6.57 billion, a price-to-earnings ratio of 43.42 and a beta of 1.02. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average price of $285.84 and a two-hundred day moving average price of $267.71.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.