Valmont Industries (NYSE:VMI) Releases Quarterly Earnings Results

Valmont Industries (NYSE:VMI) issued its quarterly earnings data on Tuesday. The industrial products company reported $4.11 EPS for the quarter, topping the consensus estimate of $4.00 by $0.11, Briefing.com reports. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. Valmont Industries’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.12 earnings per share. Valmont Industries updated its FY24 guidance to $16.50-$17.30 EPS and its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Stock Down 1.4 %

VMI opened at $320.96 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $330.97. The business’s 50-day moving average price is $287.45 and its 200-day moving average price is $268.48. The company has a market cap of $6.47 billion, a P/E ratio of 21.80 and a beta of 1.02.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.75%. Valmont Industries’s payout ratio is 16.30%.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. DA Davidson raised their price target on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Valmont Industries has a consensus rating of “Buy” and a consensus target price of $370.00.

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.