State of Wisconsin Investment Board reduced its position in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 7.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,000 shares of the conglomerate’s stock after selling 23,300 shares during the period. State of Wisconsin Investment Board owned 0.77% of Raven Industries worth $9,224,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in RAVN. Victory Capital Management Inc. acquired a new stake in Raven Industries during the first quarter worth approximately $111,000. State of Alaska Department of Revenue increased its stake 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 worth $115,000 after buying an additional 70 shares during the period. Nordea Investment Management AB acquired a new stake in Raven Industries during the first quarter worth approximately $166,000. Capstone Asset Management Co. acquired a new stake in Raven Industries during the second quarter worth approximately $201,000. Finally, Savant Capital LLC acquired a new stake in Raven Industries during the second quarter worth approximately $216,000. 71.53% of the stock is owned by institutional investors.
Raven Industries, Inc. (NASDAQ RAVN) opened at 27.35 on Friday. The stock’s 50 day moving average price is $33.84 and its 200 day moving average price is $31.73. Raven Industries, Inc. has a 1-year low of $20.21 and a 1-year high of $37.40. The firm has a market cap of $990.21 million, a P/E ratio of 32.52 and a beta of 1.36.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Raven Industries had a return on equity of 11.67% and a net margin of 9.57%. The business had revenue of $86.61 million for the quarter, compared to analyst estimates of $81.48 million. Equities research analysts predict that Raven Industries, Inc. will post $0.98 EPS for the current year.
Several research analysts have recently issued reports on the company. Dougherty & Co reaffirmed a “buy” rating on shares of Raven Industries in a research note on Friday, August 18th. Piper Jaffray Companies set a $33.00 price target on Raven Industries and gave the stock a “hold” rating in a research note on Thursday, July 27th. BidaskClub downgraded Raven Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, SunTrust Banks, Inc. assumed coverage on Raven Industries in a research note on Friday, August 18th. They set a “hold” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Raven Industries currently has a consensus rating of “Hold” and a consensus price target of $31.33.
About Raven Industries
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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