Valmont Industries, Inc. (NYSE:VMI) to Issue Quarterly Dividend of $0.60

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.60 per share by the industrial products company on Tuesday, October 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, September 27th.

Valmont Industries has raised its dividend by an average of 10.1% per year over the last three years. Valmont Industries has a dividend payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Valmont Industries to earn $17.36 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 13.8%.

Valmont Industries Trading Up 0.6 %

Shares of Valmont Industries stock traded up $1.71 during midday trading on Tuesday, reaching $300.48. 206,243 shares of the company’s stock traded hands, compared to its average volume of 179,051. The company has a market cap of $6.07 billion, a PE ratio of 39.44 and a beta of 1.03. The stock has a 50 day moving average of $268.44 and a 200-day moving average of $240.87. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $307.67. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, topping the consensus estimate of $3.24 by $1.08. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The business had revenue of $977.83 million during the quarter, compared to analyst estimates of $986.98 million. During the same period in the prior year, the business earned $3.54 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts expect that Valmont Industries will post 16.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VMI. Stifel Nicolaus increased their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. DA Davidson boosted their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday. Finally, StockNews.com upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $332.50.

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.