Valmont Industries, Inc. Announces Quarterly Dividend of $0.68 (NYSE:VMI)

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Friday, June 27th will be given a dividend of 0.68 per share by the industrial products company on Tuesday, July 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, June 27th.

Valmont Industries has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valmont Industries to earn $19.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 13.6%.

Valmont Industries Trading Up 0.6%

VMI stock opened at $325.36 on Wednesday. Valmont Industries has a twelve month low of $250.07 and a twelve month high of $379.22. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 18.94 and a beta of 1.13. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $310.72 and its two-hundred day simple moving average is $315.21.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.08. The business had revenue of $969.31 million during the quarter, compared to analyst estimates of $976.04 million. Valmont Industries had a return on equity of 22.27% and a net margin of 8.55%. As a group, analysts anticipate that Valmont Industries will post 18.07 earnings per share for the current year.

Hedge Funds Weigh In On Valmont Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in shares of Valmont Industries by 225.1% in the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock valued at $19,300,000 after acquiring an additional 46,825 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Valmont Industries by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock valued at $16,873,000 after purchasing an additional 4,676 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Valmont Industries by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after purchasing an additional 2,639 shares during the period. Empowered Funds LLC acquired a new position in Valmont Industries during the 1st quarter worth approximately $265,000. Finally, Geneos Wealth Management Inc. grew its holdings in Valmont Industries by 223.4% during the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 105 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VMI has been the subject of a number of analyst reports. William Blair raised shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, Stifel Nicolaus boosted their target price on Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd.

Valmont Industries Company Profile

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.