Valmont Industries (NYSE:VMI) Given New $360.00 Price Target at Stifel Nicolaus

Valmont Industries (NYSE:VMI) had its price objective hoisted by Stifel Nicolaus from $350.00 to $360.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on VMI. DA Davidson increased their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $370.00.

Valmont Industries Trading Down 1.4 %

VMI opened at $320.96 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. Valmont Industries has a 52 week low of $188.63 and a 52 week high of $330.97. The business’s 50 day moving average is $287.45 and its two-hundred day moving average is $268.48. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 21.80 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. The business 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 company posted $4.12 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts predict that Valmont Industries will post 16.78 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, September 27th. Valmont Industries’s payout ratio is 16.30%.

Insider Buying and Selling

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction that occurred on 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 owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Valmont Industries

A number of large investors have recently made changes to their positions in the stock. Congress Wealth Management LLC DE grew its position in Valmont Industries by 11.7% during the first quarter. Congress Wealth Management LLC DE now owns 27,673 shares of the industrial products company’s stock worth $6,317,000 after buying an additional 2,909 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Valmont Industries by 69.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 161,605 shares of the industrial products company’s stock worth $36,891,000 after acquiring an additional 65,970 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Valmont Industries by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 5,088 shares of the industrial products company’s stock worth $1,161,000 after acquiring an additional 100 shares during the period. Norden Group LLC increased its stake in Valmont Industries by 1,353.5% in the 1st quarter. Norden Group LLC now owns 23,620 shares of the industrial products company’s stock valued at $5,394,000 after purchasing an additional 21,995 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Valmont Industries by 2.5% during the first quarter. Principal Financial Group Inc. now owns 79,208 shares of the industrial products company’s stock worth $18,082,000 after purchasing an additional 1,933 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.