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

Valmont Industries (NYSE:VMI) posted its earnings results on Tuesday. The industrial products company reported $4.11 EPS for the quarter, topping the consensus estimate of $4.00 by $0.11, Briefing.com reports. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $4.12 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. 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 Down 1.4 %

Shares of Valmont Industries stock traded down $4.64 during trading on Thursday, reaching $320.96. 164,630 shares of the company traded hands, compared to its average volume of 157,258. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. Valmont Industries has a 1-year low of $188.63 and a 1-year high of $330.97. The company has a 50 day moving average price of $286.70 and a 200-day moving average price of $268.11. The firm has a market capitalization of $6.47 billion, a PE ratio of 21.34 and a beta of 1.02.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.60 per share. The ex-dividend date was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.75%. Valmont Industries’s payout ratio is presently 16.30%.

Wall Street Analyst Weigh In

Several research firms recently commented on VMI. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. 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. Finally, StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $370.00.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 3,685 shares in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 3,685 shares in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.