Valmont Industries (NYSE:VMI) Releases Earnings Results, Beats Expectations By $0.11 EPS

Valmont Industries (NYSE:VMI) announced its quarterly earnings results on Tuesday. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.11, Briefing.com reports. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $4.12 earnings per share. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. 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 Stock Up 11.2 %

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

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a $0.60 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.73%. Valmont Industries’s payout ratio is currently 31.62%.

Insider Transactions at Valmont Industries

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

Wall Street Analyst Weigh In

VMI has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson increased their price objective on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research 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 stock. Based on data from MarketBeat.com, Valmont Industries has a consensus rating of “Buy” and an average 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.