Valmont Industries, Inc. (NYSE:VMI) Given Average Recommendation of “Buy” by Analysts

Valmont Industries, Inc. (NYSE:VMI) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $573.75.

VMI has been the topic of several analyst reports. Wall Street Zen cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th.

Insider Transactions at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Institutional Trading of Valmont Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Finivi Inc. purchased a new position in shares of Valmont Industries during the second quarter worth about $765,000. Trust Point Inc. purchased a new stake in Valmont Industries in the second quarter valued at approximately $204,000. Elevation Wealth Partners LLC raised its stake in Valmont Industries by 179.2% in the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 43 shares in the last quarter. 55 North Private Wealth LLC bought a new stake in Valmont Industries during the second quarter valued at approximately $219,000. Finally, GAMMA Investing LLC lifted its position in Valmont Industries by 13.8% during the second quarter. GAMMA Investing LLC now owns 346 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

Shares of NYSE VMI traded down $0.20 during mid-day trading on Friday, hitting $546.53. The company had a trading volume of 116,262 shares, compared to its average volume of 245,110. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.26 and a beta of 1.33. Valmont Industries has a 1 year low of $326.22 and a 1 year high of $585.71. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $536.98 and its 200-day moving average price is $470.72.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $994.85 million. During the same quarter in the prior year, the firm posted $4.32 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Valmont Industries will post 22.83 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s dividend payout ratio is presently 17.10%.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.