Valmont Industries, Inc. Plans Quarterly Dividend of $0.55 (NYSE:VMI)

Valmont Industries, Inc. (NYSE:VMIGet Rating) announced a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Friday, June 24th will be given a dividend of 0.55 per share by the industrial products company on Friday, July 15th. This represents a $2.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, June 23rd.

Valmont Industries has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Valmont Industries has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Valmont Industries to earn $14.75 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 14.9%.

Shares of VMI opened at $252.73 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.25 and a quick ratio of 1.28. The firm has a 50-day moving average of $235.19 and a 200-day moving average of $237.62. The company has a market cap of $5.38 billion, a PE ratio of 26.77 and a beta of 1.17. Valmont Industries has a one year low of $203.30 and a one year high of $277.00.

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, topping 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 firm had revenue of $980.82 million for the quarter, compared to the consensus estimate of $888.07 million. During the same quarter in the previous year, the business earned $2.57 earnings per share. The business’s revenue was up 26.6% compared to the same quarter last year. Analysts expect that Valmont Industries will post 13.12 earnings per share for the current year.

A number of research firms have commented on VMI. StockNews.com began coverage on shares of Valmont Industries in a research report on Thursday, March 31st. They set a “hold” rating for the company. DA Davidson boosted their price objective on Valmont Industries from $235.00 to $260.00 in a report on Friday, April 22nd. Finally, Zacks Investment Research raised Valmont Industries from a “hold” rating to a “strong-buy” rating and set a $293.00 target price on the stock in a research report on Wednesday.

In related news, SVP Thomas Mitchell Parnell sold 761 shares of the firm’s stock in a transaction dated Friday, April 22nd. The shares were sold at an average price of $262.73, for a total transaction of $199,937.53. Following the transaction, the senior vice president now directly owns 2,788 shares of the company’s stock, valued at $732,491.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH lifted its position in shares of 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 valued at $54,795,000 after acquiring an additional 18,743 shares during the period. Morgan Stanley lifted its position in Valmont Industries by 136.7% during 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 during the period. Sei Investments Co. grew its stake in 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 buying an additional 3,908 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Valmont Industries by 4.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 29,427 shares of the industrial products company’s stock valued at $7,371,000 after buying an additional 1,275 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Valmont Industries by 14.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 6,919 shares of the industrial products company’s stock valued at $1,733,000 after buying 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.

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Dividend History for Valmont Industries (NYSE:VMI)

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