Valmont Industries (NYSE:VMI) Announces Quarterly Earnings Results, Beats Expectations By $0.63 EPS
Valmont Industries (NYSE:VMI – Get Rating) issued its earnings results on Wednesday. The industrial products company reported $3.07 EPS for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.63, MarketWatch Earnings reports. Valmont Industries had a return on equity of 17.62% and a net margin of 5.59%. The company had revenue of $980.82 million during the quarter, compared to the consensus estimate of $888.07 million. During the same period in the previous year, the firm posted $2.57 earnings per share. Valmont Industries’s quarterly revenue was up 26.6% compared to the same quarter last year. Valmont Industries updated its FY 2022 guidance to $13.000-$13.500 EPS and its FY22 guidance to $13.00-13.50 EPS.
Shares of NYSE VMI traded up $2.06 during midday trading on Wednesday, hitting $248.30. 84,211 shares of the company’s stock were exchanged, compared to its average volume of 93,143. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.24 and a quick ratio of 1.28. The stock’s 50 day moving average price is $231.19 and its 200-day moving average price is $236.87. The firm has a market cap of $5.29 billion, a P/E ratio of 27.26 and a beta of 1.17. Valmont Industries has a twelve month low of $203.30 and a twelve month high of $265.09.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Friday, March 25th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, March 24th. This is an increase from Valmont Industries’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Valmont Industries’s payout ratio is currently 24.15%.
A number of equities analysts have commented on the company. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating and set a $259.00 target price for the company. in a research note on Wednesday. StockNews.com assumed coverage on Valmont Industries in a research note on Thursday, March 31st. They issued a “hold” rating for the company.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY boosted its position in shares of Valmont Industries by 9.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,790 shares of the industrial products company’s stock worth $949,000 after buying an additional 339 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Valmont Industries during the fourth quarter worth approximately $214,000. D. E. Shaw & Co. Inc. boosted its position in shares of Valmont Industries by 14.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 6,919 shares of the industrial products company’s stock worth $1,733,000 after buying an additional 868 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Valmont Industries by 4.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 29,427 shares of the industrial products company’s stock worth $7,371,000 after buying an additional 1,275 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Valmont Industries by 13.8% during the fourth quarter. Sei Investments Co. now owns 32,329 shares of the industrial products company’s stock worth $8,118,000 after buying an additional 3,908 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.
About Valmont Industries (Get Rating)
Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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