Valmont Industries (NYSE:VMI) Issues FY 2022 Earnings Guidance

Valmont Industries (NYSE:VMIGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $13.000-$13.500 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $12.660. The company issued revenue guidance of $3.89 billion-$4.10 billion, compared to the consensus revenue estimate of $3.89 billion.

NYSE VMI opened at $254.89 on Wednesday. The business has a 50 day moving average price of $234.56 and a 200 day moving average price of $237.52. The company has a market capitalization of $5.43 billion, a P/E ratio of 27.00 and a beta of 1.17. Valmont Industries has a 1-year low of $203.30 and a 1-year high of $277.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.25 and a quick ratio of 1.28.

Valmont Industries (NYSE:VMIGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The industrial products company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.63. Valmont Industries had a return on equity of 17.60% and a net margin of 5.47%. The business had revenue of $980.82 million during the quarter, compared to analysts’ expectations of $888.07 million. During the same quarter last year, the business posted $2.57 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, research analysts expect that Valmont Industries will post 13.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, March 25th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, March 24th. This represents a $2.20 dividend on an annualized basis and a yield of 0.86%. This is a boost from Valmont Industries’s previous quarterly dividend of $0.50. Valmont Industries’s payout ratio is presently 23.31%.

Several research analysts recently issued reports on VMI shares. Zacks Investment Research downgraded Valmont Industries from a buy rating to a hold rating and set a $259.00 price objective for the company. in a research report on Wednesday, April 20th. DA Davidson raised their price objective on Valmont Industries from $235.00 to $260.00 in a report on Friday, April 22nd. Finally, StockNews.com initiated coverage on Valmont Industries in a research report on Thursday, March 31st. They set a hold rating on the stock.

In other news, SVP Thomas Mitchell Parnell sold 761 shares of the stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $262.73, for a total value of $199,937.53. Following the completion of the sale, the senior vice president now owns 2,788 shares in the company, valued at $732,491.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in VMI. Allianz Asset Management GmbH increased its stake in Valmont Industries by 9.4% during the 4th quarter. Allianz Asset Management GmbH now owns 218,820 shares of the industrial products company’s stock worth $54,795,000 after buying an additional 18,743 shares during the period. Morgan Stanley grew its stake in shares of Valmont Industries by 136.7% during the second quarter. Morgan Stanley now owns 53,572 shares of the industrial products company’s stock valued at $12,645,000 after acquiring an additional 30,937 shares in the last quarter. Sei Investments Co. increased its position in shares of Valmont Industries by 13.8% during the fourth quarter. Sei Investments Co. now owns 32,329 shares of the industrial products company’s stock worth $8,118,000 after acquiring an additional 3,908 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of 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 acquiring 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 valued at $1,733,000 after purchasing an additional 868 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

About Valmont Industries (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.

Read More

Receive News & Ratings for Valmont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries and related companies with MarketBeat.com's FREE daily email newsletter.