Valmont Industries (NYSE:VMI) Issues Quarterly Earnings Results

Valmont Industries (NYSE:VMIGet Rating) announced its earnings results on Wednesday. The industrial products company reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.63, MarketWatch Earnings reports. Valmont Industries had a net margin of 5.59% and a return on equity of 17.62%. The company had revenue of $980.82 million for the quarter, compared to the consensus estimate of $888.07 million. During the same period in the previous year, the business earned $2.57 EPS. The company’s revenue was up 26.6% on a year-over-year basis. Valmont Industries updated its FY 2022 guidance to $13.000-$13.500 EPS and its FY22 guidance to $13.00-13.50 EPS.

NYSE:VMI traded up $2.06 during trading hours on Wednesday, reaching $248.30. The company’s stock had a trading volume of 84,211 shares, compared to its average volume of 93,143. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 27.26 and a beta of 1.17. Valmont Industries has a one year low of $203.30 and a one year high of $265.09. The business’s 50-day moving average is $231.19 and its 200-day moving average is $236.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.24 and a quick ratio of 1.28.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, March 25th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, March 24th. This is a boost from Valmont Industries’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. Valmont Industries’s dividend payout ratio is currently 24.15%.

Several equities analysts have recently commented on VMI shares. StockNews.com started coverage on shares of Valmont Industries in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut shares of Valmont Industries from a “buy” rating to a “hold” rating and set a $259.00 price target on the stock. in a report on Wednesday.

A number of large investors have recently modified their holdings of VMI. Morgan Stanley boosted its holdings in Valmont Industries by 136.7% in the second quarter. Morgan Stanley now owns 53,572 shares of the industrial products company’s stock worth $12,645,000 after purchasing an additional 30,937 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Valmont Industries by 9.4% in the fourth quarter. Allianz Asset Management GmbH now owns 218,820 shares of the industrial products company’s stock worth $54,795,000 after purchasing an additional 18,743 shares in the last quarter. Sei Investments Co. boosted its holdings in Valmont Industries by 13.8% in the fourth quarter. Sei Investments Co. now owns 32,329 shares of the industrial products company’s stock worth $8,118,000 after purchasing an additional 3,908 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Valmont Industries by 4.5% in the fourth quarter. Parametric Portfolio Associates LLC now owns 29,427 shares of the industrial products company’s stock worth $7,371,000 after purchasing an additional 1,275 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Valmont Industries by 14.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 6,919 shares of the industrial products company’s stock worth $1,733,000 after purchasing an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Valmont Industries Company Profile (Get Rating)

Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

Further Reading

Earnings History for Valmont Industries (NYSE:VMI)

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