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

Valmont Industries, Inc. (NYSE:VMI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $528.61 and last traded at $521.75, with a volume of 13262 shares. The stock had previously closed at $513.43.

Analysts Set New Price Targets

VMI has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. upped their price objective on Valmont Industries from $480.00 to $510.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Oppenheimer set a $600.00 target price on Valmont Industries in a report on Thursday. DA Davidson boosted their price target on Valmont Industries from $415.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $525.25.

Valmont Industries Trading Down 1.2%

The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.15 billion, a P/E ratio of 29.03 and a beta of 1.36. The stock has a 50-day simple moving average of $456.12 and a two-hundred day simple moving average of $438.70.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. During the same quarter in the previous year, the firm earned $4.32 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Valmont Industries, Inc. will post 22.78 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, June 26th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries’s payout ratio is 17.10%.

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Valmont Industries

Several hedge funds and other institutional investors have recently modified their holdings of VMI. Edgestream Partners L.P. grew its position in Valmont Industries by 12.8% during the 1st quarter. Edgestream Partners L.P. now owns 23,624 shares of the industrial products company’s stock worth $9,439,000 after purchasing an additional 2,672 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Valmont Industries by 31.8% in the first quarter. Janus Henderson Group PLC now owns 125,830 shares of the industrial products company’s stock valued at $50,309,000 after purchasing an additional 30,359 shares during the last quarter. Bull Harbor Capital LLC purchased a new position in shares of Valmont Industries during the 1st quarter valued at about $276,000. California State Teachers Retirement System lifted its holdings in shares of Valmont Industries by 22.8% in the 1st quarter. California State Teachers Retirement System now owns 23,214 shares of the industrial products company’s stock valued at $9,276,000 after buying an additional 4,317 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Valmont Industries by 61.8% in the 1st quarter. Empowered Funds LLC now owns 1,479 shares of the industrial products company’s stock valued at $591,000 after buying an additional 565 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.