Stifel Nicolaus Cuts Valmont Industries (NYSE:VMI) Price Target to $343.00

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

A number of other equities research analysts also recently weighed in on VMI. StockNews.com downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. William Blair downgraded shares of Valmont Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, March 21st. Finally, DA Davidson cut shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th.

Valmont Industries Trading Down 0.7 %

VMI opened at $280.57 on Monday. Valmont Industries has a twelve month low of $202.01 and a twelve month high of $379.22. The company has a fifty day moving average of $313.39 and a 200-day moving average of $319.36. The stock has a market cap of $5.63 billion, a PE ratio of 16.33 and a beta of 1.07. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47.

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

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, March 28th. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s dividend payout ratio (DPR) is 15.83%.

Hedge Funds Weigh In On Valmont Industries

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Valmont Industries by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,990,839 shares of the industrial products company’s stock valued at $610,531,000 after purchasing an additional 6,967 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Valmont Industries by 23.3% during the fourth quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company’s stock worth $154,007,000 after acquiring an additional 94,884 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Valmont Industries by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 425,178 shares of the industrial products company’s stock worth $130,389,000 after acquiring an additional 9,201 shares during the last quarter. Earnest Partners LLC lifted its position in Valmont Industries by 4.3% in the 4th quarter. Earnest Partners LLC now owns 397,523 shares of the industrial products company’s stock valued at $121,908,000 after acquiring an additional 16,302 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Valmont Industries by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 335,926 shares of the industrial products company’s stock valued at $97,428,000 after purchasing an additional 4,940 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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.