Valmont Industries (NYSE:VMI) Given New $343.00 Price Target at Stifel Nicolaus

Valmont Industries (NYSE:VMI) had its target price reduced by Stifel Nicolaus from $425.00 to $343.00 in a research report report published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also issued reports on VMI. DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Wednesday, February 19th. William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. Finally, StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 29th.

Valmont Industries Stock Performance

Shares of VMI opened at $284.37 on Monday. The stock has a 50 day moving average of $315.30 and a 200 day moving average of $319.89. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 16.55 and a beta of 1.07. Valmont Industries has a 12 month low of $202.01 and a 12 month high of $379.22. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same period in the previous year, the business posted $3.18 EPS. As a group, sell-side analysts forecast that Valmont Industries will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a dividend of $0.68 per share. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, March 28th. Valmont Industries’s dividend payout ratio is presently 15.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new position in shares of Valmont Industries in the third quarter valued at $35,000. Aster Capital Management DIFC Ltd boosted its stake in Valmont Industries by 175.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 123 shares during the period. Quarry LP grew its holdings in Valmont Industries by 395.1% during the 4th quarter. Quarry LP now owns 203 shares of the industrial products company’s stock valued at $62,000 after buying an additional 162 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Valmont Industries by 35.9% during the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock valued at $65,000 after buying an additional 56 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Valmont Industries by 16.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after buying an additional 36 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.