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

Valmont Industries (NYSE:VMI) issued 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. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. 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 Stock Down 1.4 %

Valmont Industries stock opened at $320.96 on Friday. 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 $6.47 billion, a price-to-earnings ratio of 21.80 and a beta of 1.02. Valmont Industries has a 1-year low of $188.63 and a 1-year high of $330.97. The business has a fifty day moving average price of $287.45 and a 200-day moving average price of $268.48.

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 given 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 0.75%. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Insider Transactions at Valmont Industries

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

VMI has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, DA Davidson upped their price objective on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday. One 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 company. According to MarketBeat, Valmont Industries presently has a consensus rating of “Buy” and an average price target of $370.00.

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.