Garrison Financial Corp reduced its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 82,999 shares of the conglomerate’s stock after selling 1,383 shares during the period. Garrison Financial Corp’s holdings in Raven Industries were worth $2,764,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its position in Raven Industries by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 3,980 shares of the conglomerate’s stock valued at $115,000 after buying an additional 70 shares during the last quarter. Suntrust Banks Inc. increased its position in Raven Industries by 1.4% in the first quarter. Suntrust Banks Inc. now owns 11,044 shares of the conglomerate’s stock valued at $320,000 after buying an additional 152 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Raven Industries by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the conglomerate’s stock valued at $427,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System increased its position in Raven Industries by 1.1% in the first quarter. Arizona State Retirement System now owns 18,800 shares of the conglomerate’s stock valued at $546,000 after buying an additional 200 shares during the last quarter. Finally, Texas Permanent School Fund increased its position in Raven Industries by 0.9% in the second quarter. Texas Permanent School Fund now owns 26,350 shares of the conglomerate’s stock valued at $877,000 after buying an additional 231 shares during the last quarter. 73.55% of the stock is currently owned by institutional investors.
Raven Industries, Inc. (NASDAQ RAVN) opened at 33.65 on Friday. Raven Industries, Inc. has a 52-week low of $20.21 and a 52-week high of $37.40. The firm has a market cap of $1.22 billion, a P/E ratio of 45.05 and a beta of 1.36. The stock has a 50 day moving average price of $34.19 and a 200 day moving average price of $31.20.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Monday, May 22nd. The conglomerate reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.10. The company had revenue of $93.54 million for the quarter. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. Equities analysts predict that Raven Industries, Inc. will post $0.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.55%. Raven Industries’s dividend payout ratio (DPR) is presently 70.27%.
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Several research firms have recently commented on RAVN. BidaskClub downgraded Raven Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Piper Jaffray Companies set a $33.00 target price on Raven Industries and gave the company a “hold” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Raven Industries presently has a consensus rating of “Hold” and a consensus target price of $29.00.
Raven Industries Company Profile
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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