Valmont Industries, Inc. (NYSE:VMI) Announces Quarterly Dividend of $0.68

Valmont Industries, Inc. (NYSE:VMI) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Stockholders of record on Friday, March 28th will be paid a dividend of 0.68 per share by the industrial products company on Tuesday, April 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, March 28th. This is a 13.3% increase from Valmont Industries’s previous quarterly dividend of $0.60.

Valmont Industries has raised its dividend payment by an average of 6.3% annually over the last three years. Valmont Industries has a dividend payout ratio of 13.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valmont Industries to earn $19.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 13.6%.

Valmont Industries Trading Down 0.1 %

Shares of VMI stock opened at $298.70 on Wednesday. Valmont Industries has a twelve month low of $202.01 and a twelve month high of $379.22. The stock’s fifty day simple moving average is $331.75 and its 200 day simple moving average is $319.87. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $6.00 billion, a P/E ratio of 17.39 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $3.18 earnings per share. As a group, sell-side analysts predict that Valmont Industries will post 18.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. William Blair cut shares of Valmont Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, March 21st. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. 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, March 19th.

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.