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

Valmont Industries (NYSE:VMI) announced its quarterly earnings results on Tuesday. The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.11, Briefing.com reports. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $4.12 earnings per share. The firm’s quarterly 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 Trading Up 11.4 %

Shares of NYSE VMI traded up $33.48 during mid-day trading on Wednesday, hitting $328.42. The stock had a trading volume of 88,777 shares, compared to its average volume of 155,802. The firm has a market cap of $6.63 billion, a P/E ratio of 43.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. The business has a 50 day moving average price of $285.84 and a two-hundred day moving average price of $267.71. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $330.97.

Valmont Industries Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.73%. Valmont Industries’s payout ratio is 31.62%.

Analyst Ratings Changes

Several analysts have weighed in on VMI shares. Stifel Nicolaus raised their price target on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, July 18th. DA Davidson upped their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $332.50.

Insider Buying and Selling

In related 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 value of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by 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.