KAMES CAPITAL plc lowered its position in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,002 shares of the conglomerate’s stock after selling 7,322 shares during the period. KAMES CAPITAL plc owned 0.51% of Raven Industries worth $6,311,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Raven Industries during the third quarter worth approximately $100,000. Ameritas Investment Partners Inc. increased its stake in shares of Raven Industries by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after purchasing an additional 257 shares during the period. Schroder Investment Management Group bought a new position in shares of Raven Industries during the second quarter worth approximately $111,000. Quantbot Technologies LP increased its stake in shares of Raven Industries by 115.9% during the second quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 1,806 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Raven Industries during the third quarter worth approximately $120,000. Institutional investors own 74.03% of the company’s stock.
Raven Industries, Inc. (NASDAQ RAVN) opened at $36.30 on Friday. Raven Industries, Inc. has a 52 week low of $23.65 and a 52 week high of $38.35. The company has a market capitalization of $1,296.14, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.48.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.10. Raven Industries had a return on equity of 13.88% and a net margin of 10.56%. The firm had revenue of $101.35 million for the quarter, compared to analyst estimates of $84.54 million. equities analysts forecast that Raven Industries, Inc. will post 1.02 earnings per share for the current year.
Raven Industries declared that its board has approved a share buyback program on Monday, December 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.43%. Raven Industries’s dividend payout ratio (DPR) is presently 50.98%.
A number of equities analysts have recently weighed in on RAVN shares. Dougherty & Co lowered Raven Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 5th. Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, December 8th. BidaskClub lowered Raven Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 target price on shares of Raven Industries in a research note on Sunday, October 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Raven Industries has a consensus rating of “Hold” and a consensus target price of $35.00.
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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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