Valmont Industries, Inc. (VMI) To Go Ex-Dividend on December 27th

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Monday, October 28th,RTT News reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.60 per share by the industrial products company on Wednesday, January 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 27th.

Valmont Industries has increased its dividend by an average of 10.1% per year over the last three years. Valmont Industries has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valmont Industries to earn $17.88 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 13.4%.

Valmont Industries Price Performance

VMI stock opened at $311.39 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55. The company’s 50-day moving average is $330.20 and its 200-day moving average is $297.88. The stock has a market capitalization of $6.24 billion, a PE ratio of 21.15 and a beta of 1.03. Valmont Industries has a 1 year low of $202.01 and a 1 year high of $354.13.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating the consensus estimate of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $4.12 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Valmont Industries will post 16.85 EPS for the current fiscal year.

Insider Activity at Valmont Industries

In related news, Director Mogens C. Bay sold 20,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now directly owns 131,730 shares in the company, valued at approximately $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP R Andrew Massey sold 3,977 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the sale, the vice president now owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This trade represents a 29.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,977 shares of company stock valued at $13,950,095. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

VMI has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. DA Davidson raised their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

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.