FY2024 EPS Forecast for Valmont Industries Raised by Analyst

Valmont Industries, Inc. (NYSE:VMI) – Equities research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Valmont Industries in a research note issued to investors on Wednesday, October 23rd. DA Davidson analyst B. Thielman now expects that the industrial products company will post earnings of $16.99 per share for the year, up from their previous forecast of $16.89. DA Davidson currently has a “Buy” rating and a $380.00 price target on the stock. The consensus estimate for Valmont Industries’ current full-year earnings is $16.78 per share. DA Davidson also issued estimates for Valmont Industries’ Q4 2024 earnings at $3.65 EPS.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company posted $4.12 earnings per share. Valmont Industries’s quarterly revenue was down 2.9% compared to the same quarter last year.

Other equities analysts have also issued reports about the company. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their price target on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday.

Valmont Industries Stock Down 1.1 %

Shares of NYSE VMI opened at $317.15 on Thursday. The business’s fifty day moving average price is $288.16 and its 200-day moving average price is $269.11. The stock has a market capitalization of $6.40 billion, a PE ratio of 41.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. Valmont Industries has a one year low of $188.63 and a one year high of $330.97.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 31.62%.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Valmont Industries

Several large investors have recently made changes to their positions in the business. Diversify Wealth Management LLC lifted its position in shares of Valmont Industries by 19.8% in the third quarter. Diversify Wealth Management LLC now owns 1,508 shares of the industrial products company’s stock valued at $437,000 after acquiring an additional 249 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Valmont Industries in the third quarter worth about $220,000. L. Roy Papp & Associates LLP lifted its position in shares of Valmont Industries by 1.0% in the third quarter. L. Roy Papp & Associates LLP now owns 13,962 shares of the industrial products company’s stock worth $4,048,000 after buying an additional 137 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Valmont Industries by 3.8% in the third quarter. State of Alaska Department of Revenue now owns 2,342 shares of the industrial products company’s stock worth $679,000 after buying an additional 85 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Valmont Industries by 69.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 15,250 shares of the industrial products company’s stock worth $4,390,000 after buying an additional 6,250 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

About Valmont Industries

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.