Valmont Industries, Inc. (VMI) To Go Ex-Dividend on March 28th

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Shareholders of record on Friday, March 28th will be given a dividend of 0.68 per share by the industrial products company on Tuesday, April 15th. This represents a $2.72 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, March 28th. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60.

Valmont Industries has increased its dividend payment by an average of 6.3% annually over the last three years. Valmont Industries has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Valmont Industries to earn $19.44 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 12.3%.

Valmont Industries Trading Down 1.2 %

Shares of VMI stock opened at $362.89 on Friday. The stock’s 50-day moving average price is $323.66 and its 200-day moving average price is $311.72. Valmont Industries has a 12-month low of $202.01 and a 12-month high of $379.22. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 21.12 and a beta of 1.05. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same quarter in the previous year, the company posted $3.18 EPS. Equities research analysts predict that Valmont Industries will post 18.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the transaction, the director now owns 131,730 shares in the company, valued at $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% 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.