Valmont Industries Inc. (VMI) Shares Gap Up to $133.92
Valmont Industries Inc. (NYSE:VMI) shares 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 traded.
Several research firms have recently weighed in on VMI. Wedbush reissued a “neutral” rating and issued a $128.00 target price (up from $118.00) on shares of Valmont Industries in a research report on Monday, April 25th. Zacks Investment Research raised shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, April 20th. Finally, Credit Suisse Group AG reissued an “underperform” rating on shares of Valmont Industries in a research report on Wednesday.
The company’s 50-day moving average price is $134.63 and its 200 day moving average price is $121.53. The company has a market cap of $3.09 billion and a PE ratio of 74.32.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.24. During the same period in the prior year, the company earned $1.28 EPS. The company had revenue of $596.60 million for the quarter, compared to the consensus estimate of $618.55 million. The firm’s revenue was down 11.0% compared to the same quarter last year. On average, analysts anticipate that Valmont Industries Inc. will post $6.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, June 22nd.
Other large investors recently modified their holdings of the company. Liberty Mutual Group Asset Management Inc. raised its stake in shares of 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 worth $1,589,000 after buying an additional 5,086 shares in the last quarter. 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 in the last quarter. 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 in the last quarter. Retirement Systems of Alabama raised its stake in shares of Valmont Industries by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 29,605 shares of the company’s stock worth $3,139,000 after buying an additional 121 shares in the last quarter. Finally, 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 in the last quarter.
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.
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.