Valmont Industries, Inc. (NYSE:VMI) Shareholders to Get $0.77 Quarterly Dividend

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, October 26th. Stockholders of record on Thursday, December 24th will be given a dividend of $0.77 per share by the industrial products company on Friday, January 15th. This represents a $3.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 24th.

Valmont Industries has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 1 years. Valmont Industries has a dividend payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Valmont Industries to earn $26.11 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 11.8%.

Valmont Industries Price Performance

Shares of VMI stock opened at $428.00 on Tuesday. The company has a market capitalization of $8.26 billion, a P/E ratio of 15.89, a P/E/G ratio of 0.98 and a beta of 1.34. The company’s 50-day simple moving average is $469.97 and its two-hundred day simple moving average is $477.13. Valmont Industries has a one year low of $378.02 and a one year high of $585.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.41 and a quick ratio of 1.56.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $6.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.54. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. Valmont Industries’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.98 earnings per share. As a group, equities analysts anticipate that Valmont Industries will post 23.27 EPS for the current year.

Institutional Trading of Valmont Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Valmont Industries during the 2nd quarter valued at about $1,141,369,000. Bank of America Corp DE purchased a new position in shares of Valmont Industries in the second quarter worth about $175,408,000. Bank of New York Mellon Corp purchased a new position in shares of Valmont Industries in the second quarter worth about $83,723,000. Jupiter Topco LLC acquired a new stake in shares of Valmont Industries during the second quarter worth about $75,308,000. Finally, Bornite Capital Management LP acquired a new stake in shares of Valmont Industries during the second quarter worth about $37,717,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.