Valmont Industries Inc. (VMI) Sees Unusually-High Trading Volume
Valmont Industries Inc. (NYSE:VMI) shares saw strong trading volume on Friday . 229,221 shares changed hands during mid-day 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.
A number of research firms have issued reports on VMI. Wedbush reissued a “neutral” rating and set a $128.00 price target (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 price target for the company in a research report on Wednesday, April 20th. Credit Suisse Group AG reissued an “underperform” rating on shares of Valmont Industries in a research report on Wednesday, July 6th. Finally, TheStreet raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $124.67.
The stock has a market capitalization of $2.97 billion and a PE ratio of 53.40. The firm’s 50-day moving average is $134.87 and its 200-day moving average is $123.45.
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. During the same period last year, the company earned $1.61 earnings per share. The business earned $640.20 million during the quarter, compared to analyst estimates of $648.54 million. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Valmont Industries Inc. will post $6.35 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 issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, June 22nd.
A number of institutional investors have made changes to their positions in VMI. Schroder Investment Management Group increased its position in shares of Valmont Industries by 112.2% in the fourth quarter. Schroder Investment Management Group now owns 594,300 shares of the company’s stock worth $63,007,000 after buying an additional 314,200 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Valmont Industries by 48.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 522,254 shares of the company’s stock worth $55,370,000 after buying an additional 170,183 shares during the period. Morgan Stanley increased its position in shares of Valmont Industries by 288.4% in the fourth quarter. Morgan Stanley now owns 212,452 shares of the company’s stock worth $22,524,000 after buying an additional 157,753 shares during the period. State of Wisconsin Investment Board increased its position in shares of Valmont Industries by 9.8% in the fourth quarter. State of Wisconsin Investment Board now owns 106,305 shares of the company’s stock worth $11,270,000 after buying an additional 9,501 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Valmont Industries during the fourth quarter worth about $10,408,000.
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.