Valmont Industries Inc. (VMI) Shares Down 4.9%
Valmont Industries Inc. (NYSE:VMI)’s share price traded down 4.9% on Thursday . The stock traded as low as $130.51 and last traded at $130.54, with a volume of 146,429 shares trading hands. The stock had previously closed at $137.22.
Several equities analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $128.00 price target (up from $118.00) on shares of Valmont Industries in a report on Monday, April 25th. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, April 20th. Credit Suisse Group AG reaffirmed an “underperform” rating on shares of Valmont Industries in a report on Wednesday, July 6th. Finally, TheStreet raised Valmont Industries from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $124.67.
The company has a 50-day moving average price of $135.32 and a 200 day moving average price of $123.20. The company has a market cap of $3.00 billion and a P/E ratio of 72.14.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm earned $640.20 million during the quarter, compared to analysts’ expectations of $648.54 million. During the same period in the prior year, the firm posted $1.61 earnings per share. Valmont Industries’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts anticipate that Valmont Industries Inc. will post $6.40 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, June 24th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.13%. The ex-dividend date was Wednesday, June 22nd.
Other large investors recently made changes to their positions in the company. Russell Frank Co raised its stake in shares of Valmont Industries by 8.8% in the fourth quarter. Russell Frank Co now owns 27,388 shares of the company’s stock worth $2,914,000 after buying an additional 2,218 shares during the period. California State Teachers Retirement System raised its stake in shares of Valmont Industries by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 44,991 shares of the company’s stock worth $4,770,000 after buying an additional 770 shares during the period. Rhumbline Advisers raised its stake in shares of Valmont Industries by 0.7% in the fourth quarter. Rhumbline Advisers now owns 40,467 shares of the company’s stock worth $4,290,000 after buying an additional 269 shares during the period. TD Asset Management Inc. raised its stake in shares of Valmont Industries by 1.4% in the fourth quarter. TD Asset Management Inc. now owns 22,393 shares of the company’s stock worth $2,374,000 after buying an additional 300 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Valmont Industries by 2.6% in the fourth quarter. California Public Employees Retirement System now owns 66,000 shares of the company’s stock worth $6,997,000 after buying an additional 1,700 shares during the period.
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.