DA Davidson Raises Earnings Estimates for Valmont Industries

Valmont Industries, Inc. (NYSE:VMI) – Analysts at DA Davidson boosted their FY2024 EPS estimates for Valmont Industries in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst B. Thielman now anticipates that the industrial products company will post earnings per share of $16.99 for the year, up from their previous forecast of $16.89. DA Davidson currently has a “Buy” rating and a $340.00 target price on the stock. The consensus estimate for Valmont Industries’ current full-year earnings is $16.78 per share. DA Davidson also issued estimates for Valmont Industries’ Q4 2024 earnings at $3.65 EPS.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis.

Several other research firms also recently commented on VMI. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Valmont Industries presently has an average rating of “Buy” and an average price target of $332.50.

Valmont Industries Stock Performance

VMI stock opened at $325.43 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 22.11 and a beta of 1.02. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $330.97. The firm has a 50 day moving average of $286.70 and a two-hundred day moving average of $268.11.

Institutional Investors Weigh In On Valmont Industries

A number of hedge funds have recently added to or reduced their stakes in VMI. GAMMA Investing LLC lifted its position in Valmont Industries by 117.4% during the 3rd quarter. GAMMA Investing LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 54 shares during the period. Mather Group LLC. lifted its position in Valmont Industries by 2,060.0% during the 2nd quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 103 shares during the period. Exchange Traded Concepts LLC acquired a new position in Valmont Industries during the 3rd quarter valued at about $39,000. Quarry LP lifted its position in Valmont Industries by 268.0% during the 2nd quarter. Quarry LP now owns 184 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 134 shares during the period. Finally, Versant Capital Management Inc acquired a new position in Valmont Industries during the 2nd quarter valued at about $52,000. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Valmont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, September 27th. Valmont Industries’s payout ratio is 16.30%.

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.