Briefs: Valmont, Werner Enterprises, Titan Machinery, Senior Tech

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Valmont Industries stock rose more than 15 percent as the manufacturer of support structures and irrigation equipment reported second quarter earnings and revenues that handily beat analysts estimates.

Sales of $497.1 million compared with $402.3 million for the same period of 2007. Net earnings for the second quarter were $37.3 million, or $1.41 per diluted share, versus second quarter 2007 net earnings of $26.9 million, or $1.03 per diluted share.    Analysts expected $1.35 per share.

"Substantially stronger global demand for irrigation equipment led to record second quarter sales," said Mogens C. Bay, Valmont's Chairman and Chief Executive Officer.

For the year, the company expects revenue growth percentage in the mid-twenties.

Titan Machinery among Russell 2000

 FARGO, N.D. ----Titan Machinery Inc. announced that it has been added to the Russell 2000 index.

Inclusion in the index raises awareness of a stock and in some cases encourages purchases by mutual funds.

The Russell 2000 Index measures the performance of the small-cap segment of U.S. stocks.

Titan Machinery Inc., said it owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. 

In May, it acquired Mid-Land Equipment Co. L.C., with six dealerships in Iowa and Nebraska, including one at 5621 Schweitzer Road in Lincoln.

Werner Enterprises gets an upgrade

Stock in Werner Enterprises, the trucking company based in Omaha, rose more than 8 percent Friday after a JPMorgan analyst on Friday lifted his rating to Neutral from Underweight, citing the trucking companyís improving fuel efficiency and capacity utilization along with better expected pricing across the sector.

Late Thursday, the company reported second-quarter results that fell from a year earlier, but still beat analysts’ expectations.

Analyst Thomas R. Wadewitz noted the second-quarter results were driven by lower-than-expected fuel costs. Werner said it saved about 2 million gallons of fuel through new technology that reduces idling, as well as other conservation efforts.

The Stanley Works raises dividend

The Stanley Works announced that its directors approved an increase of 3.2 percent in its quarterly cash dividend to $.32 per common share.  Stanley said this extends the company’s records for the longest consecutive annual and quarterly dividend payments among industrial companies listed on the New York Stock Exchange. The dividend is payable on Sept. 23 to shareowners of record on Sept. 5.

In Lincoln, Stanley Works owns Senior Technologies, which manufactures, sells and supports security-related products to the health care industry.

— From staff and wire reports