Valmont Industries, Inc. (VMI) To Go Ex-Dividend on June 28th

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.60 per share by the industrial products company on Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, June 28th.

Valmont Industries has raised its dividend by an average of 10.1% annually over the last three years. Valmont Industries has a payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valmont Industries to earn $17.12 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 14.0%.

Valmont Industries Price Performance

VMI stock opened at $272.64 on Wednesday. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $303.57. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65. The firm has a market capitalization of $5.50 billion, a PE ratio of 35.92 and a beta of 1.04. The business has a 50 day simple moving average of $248.34 and a 200-day simple moving average of $232.89.

Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.08. The business had revenue of $977.83 million during the quarter, compared to the consensus estimate of $986.98 million. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company earned $3.54 EPS. Equities research analysts anticipate that Valmont Industries will post 15.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VMI. StockNews.com raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. DA Davidson decreased their price target on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $249.00 price objective on shares of Valmont Industries in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Valmont Industries currently has an average rating of “Moderate Buy” and an average target price of $262.00.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.