Valmont Industries (NYSE:VMI) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Valmont Industries (NYSE:VMI) released its quarterly earnings results on Tuesday. The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.11, Briefing.com reports. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.12 EPS. Valmont Industries updated its FY24 guidance to $16.50-$17.30 EPS and its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Trading Up 11.2 %

NYSE:VMI traded up $33.01 during trading hours on Wednesday, reaching $327.95. The company’s stock had a trading volume of 112,451 shares, compared to its average volume of 155,917. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 43.42 and a beta of 1.02. The firm has a 50-day simple moving average of $285.84 and a 200-day simple moving average of $267.71. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $330.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.73%. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.

Insider Buying and Selling at Valmont Industries

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

Analyst Upgrades and Downgrades

VMI has been the subject of several research analyst reports. DA Davidson lifted their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus upped their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Valmont Industries currently has an average rating of “Buy” and a consensus target price of $332.50.

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.