Valmont Industries, Inc. (NYSE:VMI) Declares Quarterly Dividend of $0.60

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.60 per share by the industrial products company on Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th.

Valmont Industries has increased its dividend by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Valmont Industries has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valmont Industries to earn $16.48 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 14.6%.

Valmont Industries Stock Up 0.8 %

VMI traded up $1.85 during trading on Wednesday, reaching $248.35. 12,880 shares of the stock traded hands, compared to its average volume of 173,240. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65. Valmont Industries has a fifty-two week low of $188.63 and a fifty-two week high of $303.57. The stock’s 50-day simple moving average is $218.31 and its two-hundred day simple moving average is $220.36. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 32.48 and a beta of 1.05.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating the consensus estimate of $3.24 by $1.08. The business had revenue of $977.83 million during the quarter, compared to analysts’ expectations of $986.98 million. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.54 EPS. As a group, equities research analysts expect that Valmont Industries will post 15.9 EPS for the current year.

Analyst Ratings Changes

VMI has been the topic of a number of analyst reports. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 23rd. DA Davidson reduced their price objective on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $249.00 target price on shares of Valmont Industries in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $262.00.

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.