Valmont Industries Inc. (VMI) To Go Ex-Dividend on September 28th
Valmont Industries Inc. (NYSE:VMI) announced a quarterly dividend on Wednesday, September 7th. Shareholders of record on Friday, September 30th will be paid a dividend of 0.375 per share on Friday, October 14th. This represents a $1.50 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, September 28th.
Shares of Valmont Industries (NYSE:VMI) opened at 134.00 on Friday. The stock has a market cap of $3.03 billion, a PE ratio of 54.49 and a beta of 1.08. Valmont Industries has a 12 month low of $92.33 and a 12 month high of $145.94. The firm has a 50-day moving average price of $130.50 and a 200-day moving average price of $130.69.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. Valmont Industries had a return on equity of 13.91% and a net margin of 2.26%. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $648.54 million. During the same period last year, the business posted $1.61 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. Equities analysts forecast that Valmont Industries will post $6.33 EPS for the current year.
In other news, Director Clark T. Jr. Randt sold 381 shares of Valmont Industries stock in a transaction on Friday, July 29th. The stock was sold at an average price of $130.10, for a total value of $49,568.10. Following the transaction, the director now directly owns 6,979 shares in the company, valued at approximately $907,967.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlueMountain Capital Management LLC increased its position in shares of Valmont Industries by 171.0% in the second quarter. BlueMountain Capital Management LLC now owns 13,185 shares of the company’s stock valued at $1,784,000 after buying an additional 8,319 shares during the period. Sei Investments Co. increased its position in shares of Valmont Industries by 269.7% in the second quarter. Sei Investments Co. now owns 5,786 shares of the company’s stock valued at $782,000 after buying an additional 4,221 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Valmont Industries during the second quarter valued at $466,000. Comerica Bank increased its position in shares of Valmont Industries by 2.4% in the second quarter. Comerica Bank now owns 16,326 shares of the company’s stock valued at $2,124,000 after buying an additional 384 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Valmont Industries by 22.8% in the second quarter. Alliancebernstein L.P. now owns 23,868 shares of the company’s stock valued at $3,229,000 after buying an additional 4,430 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.
VMI has been the subject of a number of analyst reports. Credit Suisse Group AG restated an “underperform” rating on shares of Valmont Industries in a research report on Wednesday, July 6th. TheStreet upgraded Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Finally, Zacks Investment Research cut Valmont Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Valmont Industries has a consensus rating of “Hold” and a consensus price target of $124.67.
About Valmont Industries
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.
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