Valmont Industries Inc. (NYSE:VMI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $133.30, but opened at $133.92. Valmont Industries shares last traded at $136.67, with a volume of 30,672 shares changing hands.

VMI has been the subject of several recent research reports. Zacks Investment Research cut Valmont Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $106.00 price objective on shares of Valmont Industries in a research note on Friday, March 25th. Finally, Wedbush reiterated a “neutral” rating and issued a $128.00 price objective (up previously from $118.00) on shares of Valmont Industries in a research note on Monday, April 25th.

The company has a market capitalization of $3.09 billion and a price-to-earnings ratio of 74.32. The stock’s 50-day moving average is $134.63 and its 200 day moving average is $121.53.

Valmont Industries (NYSE:VMI) last released its earnings results on Wednesday, April 20th. The company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.24. During the same quarter last year, the company posted $1.28 earnings per share. The business had revenue of $596.60 million for the quarter, compared to analysts’ expectations of $618.55 million. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, equities analysts expect that Valmont Industries Inc. will post $6.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, June 24th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, June 22nd. This represents a $1.50 annualized dividend and a yield of 1.10%.

Other institutional investors have added to or reduced their stakes in the company. Liberty Mutual Group Asset Management Inc. increased its position in Valmont Industries by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 14,988 shares of the company’s stock valued at $1,589,000 after buying an additional 5,086 shares during the period. TD Asset Management Inc. increased its position in Valmont Industries by 1.4% in the fourth quarter. TD Asset Management Inc. now owns 22,393 shares of the company’s stock valued at $2,374,000 after buying an additional 300 shares during the period. Russell Frank Co increased its position in Valmont Industries by 8.8% in the fourth quarter. Russell Frank Co now owns 27,388 shares of the company’s stock valued at $2,914,000 after buying an additional 2,218 shares during the period. Retirement Systems of Alabama increased its position in Valmont Industries by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 29,605 shares of the company’s stock valued at $3,139,000 after buying an additional 121 shares during the period. Finally, Rhumbline Advisers increased its position in Valmont Industries by 0.7% in the fourth quarter. Rhumbline Advisers now owns 40,467 shares of the company’s stock valued at $4,290,000 after buying an additional 269 shares during the period.

Valmont Industries, Inc is a diversified producer of fabricated metal products. The Company is also a producer of steel, aluminum and composite pole, tower and other structures. It operates in four segments: Engineered Infrastructure Products, which consists of the manufacture and distribution of engineered metal and composite structures and components for lighting and traffic, Wireless communication, offshore structures, roadway and access systems applications; Utility Support Structures, which consists of the manufacture of steel and concrete structures for the utility industry; Coatings, which consists of galvanizing, anodizing and coating services, and Irrigation, which consists of the manufacture of agricultural irrigation equipment and related parts and services for the agricultural industry.

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