Valmont Industries (NYSE:VMI) Shares Gap Up to $301.73

Posted by Defense World Staff on Apr 23rd, 2023

Shares of Valmont Industries, Inc. (NYSE:VMI – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $301.73, but opened at $311.79. Valmont Industries shares last traded at $312.76, with a volume of 22,852 shares traded.

Wall Street Analysts Forecast Growth

VMI has been the subject of several research analyst reports. DA Davidson reaffirmed a “neutral” rating on shares of Valmont Industries in a research report on Friday, February 24th. Stifel Nicolaus dropped their price objective on shares of Valmont Industries from $389.00 to $352.00 and set a “buy” rating for the company in a research report on Monday, April 17th. Finally, StockNews.com started coverage on shares of Valmont Industries in a research note on Thursday, March 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.75.

Valmont Industries Price Performance

The company’s fifty day moving average price is $309.85 and its 200 day moving average price is $317.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.31 and a current ratio of 2.21. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

Valmont Industries (NYSE:VMI – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The industrial products company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.49 by ($0.03). Valmont Industries had a net margin of 5.94% and a return on equity of 19.11%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.06 billion. Equities research analysts expect that Valmont Industries, Inc. will post 15.24 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were issued a $0.60 dividend. This is an increase from Valmont Industries’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Thursday, March 30th. Valmont Industries’s payout ratio is presently 20.64%.

Insider Buying and Selling

In other news, insider Aaron M. Schapper sold 4,033 shares of Valmont Industries stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $309.24, for a total value of $1,247,164.92. Following the transaction, the insider now directly owns 13,629 shares of the company’s stock, valued at $4,214,631.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC acquired a new stake in Valmont Industries in the fourth quarter valued at approximately $25,000. Ellevest Inc. raised its stake in Valmont Industries by 1,500.0% during the 3rd quarter. Ellevest Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 90 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Valmont Industries during the 3rd quarter valued at $28,000. TCI Wealth Advisors Inc. raised its stake in Valmont Industries by 1,628.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 121 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 114 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Valmont Industries during the 4th quarter valued at $36,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

About Valmont Industries

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Valmont Industries, Inc engages in the manufacture of products and services for infrastructure and agriculture markets. It operates through the Infrastructure and Agriculture segments. The Infrastructure segment includes five primary product lines such as Transmission, Distribution, and Substation, Lighting and Transportation, Coatings, Telecommunications, and Renewable Energy.