Valmont Industries (NYSE:VMI) Shares Gap Down – Here’s Why

Valmont Industries, Inc. (NYSE:VMI) shares gapped down before the market opened on Friday . The stock had previously closed at $326.58, but opened at $305.17. Valmont Industries shares last traded at $301.24, with a volume of 46,735 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on VMI. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a research report on Friday. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Wednesday, February 19th. Finally, StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Valmont Industries Stock Down 12.5 %

The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 16.63 and a beta of 0.98. The business has a 50 day simple moving average of $332.20 and a 200-day simple moving average of $319.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $3.18 EPS. On average, equities analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 15.83%.

Institutional Trading of Valmont Industries

A number of hedge funds and other institutional investors have recently modified their holdings of VMI. Sunbelt Securities Inc. purchased a new position in Valmont Industries during the 3rd quarter valued at about $35,000. Point72 Asset Management L.P. purchased a new position in shares of Valmont Industries in the 3rd quarter valued at about $58,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Valmont Industries by 175.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company’s stock valued at $59,000 after buying an additional 123 shares during the period. Quarry LP lifted its stake in Valmont Industries by 395.1% during the fourth quarter. Quarry LP now owns 203 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 162 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Valmont Industries by 35.9% during the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 56 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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.