Valmont Industries (NYSE:VMI) Shares Gap Down – Here’s Why

Shares of Valmont Industries, Inc. (NYSE:VMI) gapped down before the market opened on Friday . The stock had previously closed at $326.58, but opened at $305.17. Valmont Industries shares last traded at $301.24, with a volume of 46,735 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Wednesday, February 19th. William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday. StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus boosted their price target on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Valmont Industries Stock Down 11.2 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The company has a market capitalization of $5.82 billion, a PE ratio of 16.88 and a beta of 0.98. The business has a 50-day moving average of $332.53 and a 200 day moving average of $318.77.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same period in the previous year, the business earned $3.18 earnings per share. Equities research analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a $0.68 dividend. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, March 28th. Valmont Industries’s payout ratio is currently 15.83%.

Institutional Investors Weigh In On Valmont Industries

A number of hedge funds have recently made changes to their positions in the company. 111 Capital purchased a new stake in Valmont Industries during the fourth quarter valued at approximately $345,000. Castleark Management LLC raised its position in Valmont Industries by 3.9% during the fourth quarter. Castleark Management LLC now owns 21,710 shares of the industrial products company’s stock valued at $6,658,000 after purchasing an additional 820 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Valmont Industries by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,872 shares of the industrial products company’s stock valued at $21,428,000 after purchasing an additional 9,516 shares during the period. iSAM Funds UK Ltd purchased a new stake in Valmont Industries during the fourth quarter valued at approximately $255,000. Finally, Squarepoint Ops LLC raised its position in Valmont Industries by 141.2% during the fourth quarter. Squarepoint Ops LLC now owns 41,555 shares of the industrial products company’s stock valued at $12,744,000 after purchasing an additional 24,323 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.