Valmont Industries, Inc. (VMI) to Issue Quarterly Dividend of $0.68 on April 15th

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Friday, March 28th will be given a dividend of 0.68 per share by the industrial products company on Tuesday, April 15th. This represents a $2.72 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, March 28th. This is a 13.3% increase from Valmont Industries’s previous quarterly dividend of $0.60.

Valmont Industries has increased its dividend by an average of 6.3% per year over the last three years. Valmont Industries has a payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valmont Industries to earn $19.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 13.6%.

Valmont Industries Stock Performance

NYSE:VMI opened at $298.70 on Wednesday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 17.39 and a beta of 0.98. Valmont Industries has a fifty-two week low of $202.01 and a fifty-two week high of $379.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07. The stock has a fifty day moving average price of $331.75 and a 200-day moving average price of $319.87.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same quarter in the previous year, the firm earned $3.18 earnings per share. As a group, equities analysts anticipate that Valmont Industries will post 18.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VMI shares. StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 19th. Stifel Nicolaus upped their target price on Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. William Blair downgraded Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. Finally, DA Davidson cut Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th.

About Valmont Industries

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.