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

Valmont Industries, Inc. (NYSE:VMI) announced a quarterly dividend on Monday, October 28th,RTT News reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.60 per share by the industrial products company on Wednesday, January 15th. This represents a $2.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, December 27th.

Valmont Industries has raised its dividend payment by an average of 10.1% per year over the last three years. Valmont Industries has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Valmont Industries to earn $17.88 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 13.4%.

Valmont Industries Price Performance

VMI opened at $311.39 on Wednesday. The firm has a 50-day moving average price of $330.20 and a 200-day moving average price of $297.88. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. Valmont Industries has a twelve month low of $202.01 and a twelve month high of $354.13. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 21.15 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.11. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted $4.12 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Equities analysts expect that Valmont Industries will post 16.85 EPS for the current year.

Wall Street Analysts Forecast Growth

VMI has been the topic of several recent analyst reports. Stifel Nicolaus raised their price target on Valmont Industries from $360.00 to $382.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson lifted their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Insider Transactions at Valmont Industries

In other Valmont Industries news, VP R Andrew Massey sold 3,977 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $315.00, for a total value of $1,252,755.00. Following the completion of the transaction, the vice president now owns 9,408 shares in the company, valued at approximately $2,963,520. This represents a 29.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mogens C. Bay sold 20,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the transaction, the director now directly owns 131,730 shares of the company’s stock, valued at $45,963,231.60. This represents a 13.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,977 shares of company stock worth $13,950,095. Company insiders own 1.90% of the company’s stock.

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.