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.
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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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