Valmont Industries (NYSE:VMI) Stock Rating Lowered by Stifel Nicolaus

Stifel Nicolaus downgraded shares of Valmont Industries (NYSE:VMI) from a buy rating to a hold rating in a report issued on Monday, December 11th, Marketbeat Ratings reports. They currently have $174.00 price objective on the industrial products company’s stock, down from their previous price objective of $177.00.

A number of other brokerages have also weighed in on VMI. Boenning Scattergood restated a buy rating and set a $185.00 price target on shares of Valmont Industries in a research note on Thursday, October 19th. Zacks Investment Research upgraded Valmont Industries from a sell rating to a hold rating in a research note on Monday, November 6th. Seaport Global Securities began coverage on Valmont Industries in a research note on Wednesday, September 6th. They set a buy rating and a $160.00 price target 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Valmont Industries currently has a consensus rating of Hold and an average target price of $174.25.

Shares of Valmont Industries (VMI) traded up $1.50 during mid-day trading on Monday, hitting $167.35. The stock had a trading volume of 127,154 shares, compared to its average volume of 97,500. Valmont Industries has a 1-year low of $135.95 and a 1-year high of $176.35. The stock has a market capitalization of $3,749.48, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.50 and a quick ratio of 2.53.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $652.65 million. During the same quarter in the previous year, the firm posted $1.48 EPS. Valmont Industries’s revenue was up 11.6% on a year-over-year basis. equities analysts expect that Valmont Industries will post 6.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.375 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.50 dividend on an annualized basis and a yield of 0.90%. Valmont Industries’s dividend payout ratio is currently 17.90%.

In related news, VP Vanessa Kay Brown sold 3,059 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.74, for a total value of $525,352.66. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted its position in Valmont Industries by 220.0% in the second quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after buying an additional 495 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Valmont Industries by 85.6% in the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after buying an additional 599 shares during the last quarter. Gofen & Glossberg LLC IL acquired a new position in Valmont Industries in the third quarter valued at approximately $209,000. Janney Montgomery Scott LLC lifted its holdings in Valmont Industries by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 8 shares during the period. Finally, Verity Asset Management Inc. lifted its holdings in Valmont Industries by 8.1% in the second quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 85.26% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Valmont Industries (NYSE:VMI) Stock Rating Lowered by Stifel Nicolaus” was published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.truebluetribune.com/2018/01/03/valmont-industries-vmi-lowered-to-hold-at-stifel-nicolaus.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply