Valmont Industries (VMI) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Valmont Industries (NYSE:VMI) from a sell rating to a hold rating in a report released on Saturday morning.
According to Zacks, “Estimates for Valmont for the current quarter and full year have been stable lately. Valmont is pursuing an aggressive acquisition strategy and capacity expansion plan to boost growth. The company is also looking to improve its overall cost structure through restructuring actions. It has also outperformed the industry it belongs to over the past six months. However, Valmont has trimmed its annual earnings guidance factoring in the impact of the disruptions caused by recent hurricanes. The company is also exposed to raw material price pressure and continued challenges in its irrigation business. Weak infrastructure spending is also affecting its Engineered Support Structures unit.”
A number of other equities analysts also recently commented on VMI. Stifel Nicolaus restated a buy rating and set a $183.00 price objective on shares of Valmont Industries in a research note on Tuesday, October 17th. Boenning Scattergood restated a buy rating and set a $185.00 price objective on shares of Valmont Industries in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $176.00.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The business had revenue of $680.78 million for the quarter, compared to analyst estimates of $652.65 million. During the same quarter in the prior year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. research analysts anticipate that Valmont Industries will post 6.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.375 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.50 annualized dividend and a yield of 0.89%. Valmont Industries’s dividend payout ratio (DPR) is currently 17.92%.
In related news, VP Vanessa Kay Brown sold 3,059 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $171.74, for a total value of $525,352.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC lifted its stake in Valmont Industries by 85.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 599 shares during the last quarter. Gofen & Glossberg LLC IL acquired a new stake in Valmont Industries in the 3rd quarter valued at about $209,000. Verity Asset Management Inc. lifted its stake in Valmont Industries by 8.1% in the 2nd quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 119 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in Valmont Industries in the 2nd quarter valued at about $246,000. Finally, Trexquant Investment LP bought a new position in Valmont Industries in the 3rd quarter valued at about $252,000. Institutional investors and hedge funds own 85.27% of the company’s stock.
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Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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