DA Davidson Raises Earnings Estimates for Valmont Industries

Valmont Industries, Inc. (NYSE:VMI) – Equities research analysts at DA Davidson raised their FY2024 EPS estimates for shares of Valmont Industries in a report released on Wednesday, October 23rd. DA Davidson analyst B. Thielman now expects that the industrial products company will post earnings per share of $16.99 for the year, up from their prior forecast of $16.89. DA Davidson currently has a “Buy” rating and a $340.00 price target on the stock. The consensus estimate for Valmont Industries’ current full-year earnings is $16.78 per share. DA Davidson also issued estimates for Valmont Industries’ Q4 2024 earnings at $3.65 EPS.

A number of other brokerages also recently weighed in on VMI. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $332.50.

Valmont Industries Stock Performance

Shares of NYSE:VMI opened at $325.43 on Thursday. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 22.11 and a beta of 1.02. The firm’s 50 day simple moving average is $286.70 and its 200 day simple moving average is $268.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. Valmont Industries has a fifty-two week low of $188.63 and a fifty-two week high of $330.97.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. Valmont Industries’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company posted $4.12 EPS.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.74%. Valmont Industries’s dividend payout ratio (DPR) is currently 16.30%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Valmont Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Valmont Industries by 117.4% in the third quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Mather Group LLC. grew its stake in shares of Valmont Industries by 2,060.0% in the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after buying an additional 103 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Valmont Industries in the third quarter valued at $39,000. Quarry LP grew its stake in shares of Valmont Industries by 268.0% in the second quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after buying an additional 134 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Valmont Industries in the second quarter valued at $52,000. 87.84% of the stock is owned by institutional investors.

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.