Valmont Industries (NYSE:VMI) Price Target Raised to $380.00

Valmont Industries (NYSE:VMI) had its price target raised by DA Davidson from $340.00 to $380.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price objective indicates a potential upside of 20.53% from the company’s previous close. DA Davidson also issued estimates for Valmont Industries’ Q4 2024 earnings at $3.65 EPS and FY2024 earnings at $16.99 EPS.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Valmont Industries currently has an average rating of “Buy” and an average price target of $352.50.

Valmont Industries Stock Performance

Valmont Industries stock traded down $10.32 on Thursday, hitting $315.28. The company’s stock had a trading volume of 36,484 shares, compared to its average volume of 156,636. The company has a fifty day moving average price of $286.70 and a 200-day moving average price of $268.11. The firm has a market cap of $6.36 billion, a P/E ratio of 21.42 and a beta of 1.02. Valmont Industries has a one year low of $188.63 and a one year high of $330.97. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $4.12 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Valmont Industries will post 16.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the transaction, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Valmont Industries

A number of institutional investors and hedge funds have recently made changes to their positions in VMI. Dimensional Fund Advisors LP increased its holdings in Valmont Industries by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 418,722 shares of the industrial products company’s stock worth $114,919,000 after buying an additional 14,168 shares during the last quarter. Earnest Partners LLC bought a new stake in Valmont Industries in the second quarter valued at approximately $91,878,000. Copeland Capital Management LLC raised its position in shares of Valmont Industries by 0.9% in the third quarter. Copeland Capital Management LLC now owns 307,338 shares of the industrial products company’s stock valued at $89,113,000 after purchasing an additional 2,869 shares during the period. Bank of New York Mellon Corp grew its stake in Valmont Industries by 39.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after buying an additional 73,084 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Valmont Industries by 794.2% in the 2nd quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after acquiring an additional 175,961 shares during the period. Institutional investors own 87.84% of the company’s stock.

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.