Valmont Industries (NYSE:VMI) Posts Quarterly Earnings Results, Beats Estimates By $0.54 EPS

Valmont Industries (NYSE:VMI) announced its earnings results on Tuesday. The industrial products company reported $6.24 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.54, FiscalAI reports. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%.

Valmont Industries Trading Up 2.0%

VMI opened at $453.29 on Tuesday. The stock has a market capitalization of $8.75 billion, a PE ratio of 17.65, a P/E/G ratio of 1.02 and a beta of 1.34. The firm’s fifty day moving average price is $475.17 and its 200 day moving average price is $495.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries has a 12-month low of $378.02 and a 12-month high of $585.71.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Friday, September 25th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, September 25th. Valmont Industries’s payout ratio is 11.99%.

Analysts Set New Price Targets

VMI has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Zacks Research lowered shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen downgraded Valmont Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $587.00.

Insider Activity

In other Valmont Industries news, Director Theodor Freye sold 800 shares of Valmont Industries stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the transaction, the director owned 2,805 shares of the company’s stock, valued at $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John L. Schwietz bought 208 shares of the stock in a transaction on Thursday, July 23rd. The shares were acquired at an average price of $486.14 per share, with a total value of $101,117.12. Following the purchase, the chief financial officer owned 2,992 shares of the company’s stock, valued at $1,454,530.88. The trade was a 7.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.42% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.