Zacks Investment Research upgraded shares of Valmont Industries (NYSE:VMI) from a sell rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “Earnings estimates for Valmont for the fourth quarter have been stable lately. Valmont is looking to improve productivity and its overall cost structure through restructuring actions. It also remains focused on pursuing acquisitions and expand capacity to boost growth. The company has also outperformed the industry over the past three months. However, Valmont faces certain challenges in its irrigation business. Uncertainties surrounding the potential impacts of tariffs and trade policies along with low net farm income levels continue to cloud the outlook. The company's utility business also faces headwinds from a challenging wind market environment in Northern Europe and unfavorable product mix in North America.”
Several other equities analysts have also recently commented on VMI. Boenning Scattergood restated a hold rating on shares of Valmont Industries in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Valmont Industries from a sell rating to a hold rating in a research report on Thursday, November 1st. Four analysts have rated the stock with a hold rating, The stock has an average rating of Hold and a consensus price target of $165.00.
Shares of NYSE:VMI opened at $136.15 on Monday. The company has a market capitalization of $2.99 billion, a PE ratio of 19.53, a PEG ratio of 1.59 and a beta of 1.25. The company has a quick ratio of 2.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.65. Valmont Industries has a 12 month low of $103.01 and a 12 month high of $159.95.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Friday, December 28th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, December 27th. Valmont Industries’s dividend payout ratio is 21.52%.
Valmont Industries declared that its board has initiated a share buyback program on Wednesday, October 31st that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in Valmont Industries by 20.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,402 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 235 shares in the last quarter. Advisor Group Inc. increased its position in Valmont Industries by 538.6% during the 4th quarter. Advisor Group Inc. now owns 1,769 shares of the industrial products company’s stock worth $196,000 after purchasing an additional 1,492 shares in the last quarter. Jefferies Group LLC acquired a new position in Valmont Industries during the 3rd quarter worth approximately $210,000. Heritage Trust Co increased its position in Valmont Industries by 19.7% during the 4th quarter. Heritage Trust Co now owns 2,393 shares of the industrial products company’s stock worth $266,000 after purchasing an additional 393 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in Valmont Industries during the 4th quarter worth approximately $281,000. Institutional investors and hedge funds own 91.92% of the company’s stock.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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