BlackRock Inc. grew its position in Raven Industries, Inc. (NASDAQ:RAVN) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,607,096 shares of the conglomerate’s stock after buying an additional 173,123 shares during the quarter. BlackRock Inc. owned 12.73% of Raven Industries worth $153,418,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in Raven Industries in the first quarter valued at $111,000. Schroder Investment Management Group purchased a new stake in Raven Industries during the 2nd quarter worth about $111,000. Capstone Asset Management Co. purchased a new stake in Raven Industries during the 2nd quarter worth about $201,000. Marshall Wace North America L.P. purchased a new stake in Raven Industries during the 2nd quarter worth about $209,000. Finally, Savant Capital LLC purchased a new stake in Raven Industries during the 2nd quarter worth about $216,000. 73.05% of the stock is owned by institutional investors and hedge funds.
In other Raven Industries news, Director Marc E. Lebaron bought 1,457 shares of the business’s stock in a transaction on Monday, August 28th. The shares were purchased at an average price of $27.55 per share, with a total value of $40,140.35. Following the completion of the acquisition, the director now directly owns 3,457 shares of the company’s stock, valued at approximately $95,240.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.
Shares of Raven Industries, Inc. (NASDAQ RAVN) opened at 33.45 on Friday. The stock has a 50 day moving average price of $30.68 and a 200 day moving average price of $32.23. Raven Industries, Inc. has a 12-month low of $20.21 and a 12-month high of $37.40. The stock has a market capitalization of $1.21 billion, a P/E ratio of 39.77 and a beta of 1.46.
Raven Industries (NASDAQ:RAVN) last issued its earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.23. Raven Industries had a net margin of 9.57% and a return on equity of 11.67%. The firm had revenue of $86.61 million for the quarter, compared to analysts’ expectations of $81.48 million. On average, equities analysts anticipate that Raven Industries, Inc. will post $0.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.13 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. Raven Industries’s dividend payout ratio is currently 61.18%.
A number of brokerages have issued reports on RAVN. BidaskClub downgraded Raven Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Piper Jaffray Companies set a $33.00 price target on Raven Industries and gave the stock a “hold” rating in a report on Thursday, July 27th. SunTrust Banks, Inc. began coverage on Raven Industries in a report on Friday, August 18th. They set a “hold” rating and a $36.00 price target for the company. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of Raven Industries in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.
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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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