Valmont Industries (VMI) Lowered to “Hold” at Stifel Nicolaus

Stifel Nicolaus cut shares of Valmont Industries (NYSE:VMI) from a buy rating to a hold rating in a research note released on Monday, MarketBeat.com reports. The firm currently has $174.00 price target on the industrial products company’s stock, down from their previous price target of $177.00.

VMI has been the topic of a number of other research reports. Zacks Investment Research upgraded Valmont Industries from a hold rating to a buy rating and set a $178.00 target price on the stock in a research note on Tuesday, October 17th. Boenning Scattergood reiterated a buy rating and issued a $185.00 target price on shares of Valmont Industries in a research note on Friday, November 10th. Seaport Global Securities started coverage on Valmont Industries in a research note on Wednesday, September 6th. They issued a buy rating and a $160.00 target price on the stock. Finally, BidaskClub lowered Valmont Industries from a sell rating to a strong sell rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Valmont Industries currently has a consensus rating of Hold and a consensus price target of $174.25.

Shares of Valmont Industries (NYSE:VMI) opened at $160.45 on Monday. Valmont Industries has a twelve month low of $135.95 and a twelve month high of $176.35. The firm has a market capitalization of $3,689.57, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.34 and a beta of 1.06. The company has a current ratio of 3.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.65.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.04). Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The company had revenue of $680.78 million for the quarter, compared to analysts’ expectations of $652.65 million. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. equities analysts forecast that Valmont Industries will post 6.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, December 28th. Valmont Industries’s payout ratio is 17.90%.

In other news, VP Vanessa Kay Brown sold 3,059 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Valmont Industries by 5.1% during the second quarter. Vanguard Group Inc. now owns 1,869,447 shares of the industrial products company’s stock valued at $279,669,000 after purchasing an additional 90,745 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in Valmont Industries by 53.0% during the third quarter. Pictet Asset Management Ltd. now owns 623,558 shares of the industrial products company’s stock valued at $98,585,000 after purchasing an additional 215,893 shares in the last quarter. Schroder Investment Management Group boosted its position in Valmont Industries by 51.1% during the third quarter. Schroder Investment Management Group now owns 600,058 shares of the industrial products company’s stock valued at $95,109,000 after purchasing an additional 202,817 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Valmont Industries by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 537,511 shares of the industrial products company’s stock valued at $84,981,000 after purchasing an additional 6,112 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Valmont Industries by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 432,874 shares of the industrial products company’s stock valued at $64,758,000 after purchasing an additional 19,215 shares in the last quarter. 85.28% of the stock is currently owned by institutional investors.

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Valmont Industries Company Profile

Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.

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