Valmont Industries (NYSE:VMI) PT Raised to $325.00

Valmont Industries (NYSE:VMI) had its price target upped by Stifel Nicolaus from $285.00 to $325.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Separately, StockNews.com raised Valmont Industries from a hold rating to a buy rating in a report on Thursday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $300.00.

Valmont Industries Stock Performance

Shares of VMI opened at $278.41 on Thursday. The stock’s 50-day simple moving average is $265.01 and its 200 day simple moving average is $238.28. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 36.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.65 and a current ratio of 2.64. Valmont Industries has a 52-week low of $188.63 and a 52-week high of $290.15.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.08. The business had revenue of $977.83 million for the quarter, compared to analysts’ expectations of $986.98 million. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.54 EPS. Research analysts forecast that Valmont Industries will post 15.96 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.86%. Valmont Industries’s dividend payout ratio is 31.62%.

Hedge Funds Weigh In On Valmont Industries

A number of large investors have recently modified their holdings of the company. Mather Group LLC. grew its position in Valmont Industries by 2,060.0% during the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 103 shares during the last quarter. Sound Income Strategies LLC bought a new position in Valmont Industries during the 4th quarter worth approximately $29,000. Avior Wealth Management LLC grew its position in Valmont Industries by 188.9% during the 4th quarter. Avior Wealth Management LLC now owns 130 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 85 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Valmont Industries by 633.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 132 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 114 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new position in Valmont Industries during the 4th quarter worth approximately $44,000. 87.84% of the stock is owned by hedge funds and other 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.