Valmont Industries, Inc. (NYSE:VMI) Declares Quarterly Dividend of $0.60

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, October 28th, RTT News reports. Investors 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 yield of 0.74%.

Valmont Industries has raised its dividend by an average of 10.1% per year over the last three years. Valmont Industries has a dividend payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valmont Industries to earn $17.92 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 Stock Performance

Shares of VMI opened at $325.84 on Tuesday. The stock has a market capitalization of $6.57 billion, a PE ratio of 22.14 and a beta of 1.02. The business’s fifty day moving average price is $289.02 and its 200 day moving average price is $270.49. Valmont Industries has a 12-month low of $189.05 and a 12-month high of $330.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 1.55.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $4.12 earnings per share. Valmont Industries’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Valmont Industries will post 16.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. DA Davidson boosted their price target on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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.