Valmont Industries (NYSE:VMI) Reaches New 52-Week High – Time to Buy?

Valmont Industries, Inc. (NYSE:VMI)’s share price reached a new 52-week high on Monday . The company traded as high as $352.88 and last traded at $352.26, with a volume of 14684 shares changing hands. The stock had previously closed at $342.09.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective 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 upped their price target on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th.

Valmont Industries Stock Up 0.0 %

The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average is $313.45 and its 200 day moving average is $286.97. The stock has a market cap of $7.05 billion, a P/E ratio of 23.97 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share 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 prior year, the company earned $4.12 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 16.86 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 27th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, December 27th. Valmont Industries’s payout ratio is currently 16.30%.

Insiders Place Their Bets

In other Valmont Industries news, Director Mogens C. Bay sold 17,000 shares of Valmont Industries stock in a transaction on Friday, October 25th. The shares were sold at an average price of $316.48, for a total transaction of $5,380,160.00. Following the sale, the director now owns 154,730 shares in the company, valued at $48,968,950.40. The trade was a 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP R Andrew Massey sold 3,977 shares of the stock in a transaction on 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 transaction, the vice president now owns 9,408 shares of the company’s stock, valued at approximately $2,963,520. This represents a 29.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,977 shares of company stock worth $6,971,695 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VMI. CANADA LIFE ASSURANCE Co grew its stake in shares of Valmont Industries by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,190 shares of the industrial products company’s stock valued at $3,240,000 after purchasing an additional 67 shares during the period. Tidal Investments LLC raised its stake in Valmont Industries by 8.6% during the first quarter. Tidal Investments LLC now owns 3,186 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 253 shares in the last quarter. Comerica Bank lifted its holdings in shares of Valmont Industries by 81.9% during the first quarter. Comerica Bank now owns 19,397 shares of the industrial products company’s stock valued at $4,428,000 after acquiring an additional 8,731 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Valmont Industries in the 1st quarter valued at $1,796,000. Finally, Moody National Bank Trust Division grew its holdings in shares of Valmont Industries by 460.2% in the 2nd quarter. Moody National Bank Trust Division now owns 6,173 shares of the industrial products company’s stock worth $1,694,000 after purchasing an additional 5,071 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.