Valmont Industries (NYSE:VMI) Reaches New 52-Week High on Strong Earnings

Valmont Industries, Inc. (NYSE:VMI)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $313.79 and last traded at $313.79, with a volume of 15790 shares traded. The stock had previously closed at $294.94.

The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $4.12 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.73%. Valmont Industries’s payout ratio is 31.62%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VMI shares. DA Davidson boosted their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Valmont Industries has a consensus rating of “Buy” and an average target price of $332.50.

Insider Transactions at Valmont Industries

In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Valmont Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Valmont Industries by 117.4% during the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 54 shares in the last quarter. Mather Group LLC. boosted its holdings in Valmont Industries by 2,060.0% in the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after buying an additional 103 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Valmont Industries during the 3rd quarter worth approximately $39,000. Quarry LP raised its holdings in shares of Valmont Industries by 268.0% during the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 134 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of Valmont Industries in the second quarter valued at approximately $52,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

The stock has a 50 day moving average price of $285.84 and a 200-day moving average price of $267.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 42.14 and a beta of 1.02.

About Valmont Industries

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.