Valmont Industries Inc. (VMI) Sees Unusually-High Trading Volume
Shares of Valmont Industries Inc. (NYSE:VMI) saw unusually-high trading volume on Friday . Approximately 229,221 shares changed hands during trading, an increase of 53% from the previous session’s volume of 149,456 shares.The stock last traded at $131.30 and had previously closed at $132.38.
VMI has been the subject of a number of recent analyst reports. TheStreet upgraded Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, April 20th. Wedbush reiterated a “neutral” rating and set a $128.00 target price (up from $118.00) on shares of Valmont Industries in a research report on Monday, April 25th. Finally, Credit Suisse Group AG reiterated an “underperform” rating on shares of Valmont Industries in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Valmont Industries has a consensus rating of “Hold” and a consensus target price of $124.67.
The firm has a 50 day moving average of $134.87 and a 200 day moving average of $123.45. The firm has a market capitalization of $2.97 billion and a price-to-earnings ratio of 53.40.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $648.54 million. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 earnings per share. Analysts predict that Valmont Industries Inc. will post $6.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, June 24th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, June 22nd.
Several hedge funds have modified their holdings of the stock. Rhumbline Advisers increased its stake in 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. TD Asset Management Inc. increased its stake in 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. California Public Employees Retirement System increased its stake in 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 in the last quarter. Russell Frank Co increased its stake in 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. Finally, Principal Financial Group Inc. increased its stake in Valmont Industries by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 75,025 shares of the company’s stock worth $7,954,000 after buying an additional 2,281 shares in the last quarter.
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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