Valmont Industries (NYSE:VMI) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Valmont Industries (NYSE:VMI) from a hold rating to a buy rating in a report published on Tuesday.

Separately, Stifel Nicolaus reiterated a buy rating and issued a $249.00 target price on shares of Valmont Industries in a report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $262.00.

Valmont Industries Stock Up 2.3 %

NYSE VMI opened at $276.57 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65. The company’s 50 day simple moving average is $262.12 and its 200 day simple moving average is $236.61. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $289.54. The company has a market capitalization of $5.58 billion, a P/E ratio of 36.44 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last released its earnings results on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $1.08. Valmont Industries had a net margin of 3.83% and a return on equity of 22.14%. The business had revenue of $977.83 million for the quarter, compared to the consensus estimate of $986.98 million. During the same period in the previous year, the firm earned $3.54 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts expect that Valmont Industries will post 15.94 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.87%. Valmont Industries’s dividend payout ratio is currently 31.62%.

Institutional Investors Weigh In On Valmont Industries

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Valmont Industries during the fourth quarter valued at approximately $49,526,000. Vaughan Nelson Investment Management L.P. purchased a new position in Valmont Industries during the fourth quarter valued at approximately $22,332,000. Wellington Management Group LLP purchased a new position in Valmont Industries during the fourth quarter valued at approximately $21,669,000. Copeland Capital Management LLC grew its position in Valmont Industries by 36.9% during the fourth quarter. Copeland Capital Management LLC now owns 295,350 shares of the industrial products company’s stock valued at $68,967,000 after purchasing an additional 79,647 shares in the last quarter. Finally, Robeco Schweiz AG grew its position in Valmont Industries by 65.2% during the fourth quarter. Robeco Schweiz AG now owns 150,855 shares of the industrial products company’s stock valued at $35,226,000 after purchasing an additional 59,524 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.