Valmont Industries (NYSE:VMI) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Valmont Industries (NYSE:VMI) released its earnings results on Tuesday. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11, Briefing.com reports. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.12 EPS. Valmont Industries updated its FY24 guidance to $16.50-$17.30 EPS and its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Trading Up 11.4 %

NYSE:VMI traded up $33.48 during midday trading on Wednesday, hitting $328.42. 88,777 shares of the company traded hands, compared to its average volume of 155,802. The firm has a market capitalization of $6.63 billion, a P/E ratio of 43.42 and a beta of 1.02. The firm’s fifty day moving average is $285.84 and its 200-day moving average is $267.71. Valmont Industries has a 12-month low of $188.63 and a 12-month high of $330.97. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.

Insiders Place Their Bets

In other news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction dated 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 owns 3,685 shares in the company, valued at approximately $1,105,942.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 completion of the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. 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 accessible through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on VMI shares. DA Davidson upped 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 shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus lifted their price objective on 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Valmont Industries presently has an average rating of “Buy” and an average target price of $332.50.

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.