Creative Planning grew its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,607 shares of the conglomerate’s stock after buying an additional 5,000 shares during the quarter. Creative Planning owned 0.44% of Raven Industries worth $5,379,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Raven Industries during the third quarter worth $100,000. Ameritas Investment Partners Inc. lifted its stake in shares of Raven Industries by 8.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock valued at $106,000 after purchasing an additional 257 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Raven Industries in the 2nd quarter valued at $111,000. Quantbot Technologies LP lifted its stake in Raven Industries by 115.9% during the 2nd quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock worth $112,000 after acquiring an additional 1,806 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Raven Industries during the 3rd quarter worth about $120,000. Institutional investors and hedge funds own 74.19% of the company’s stock.
RAVN has been the topic of several research reports. SunTrust Banks raised Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Friday, December 8th. BidaskClub downgraded Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Dougherty & Co downgraded Raven Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $35.00.
Raven Industries, Inc. (NASDAQ:RAVN) traded up $0.45 during trading on Friday, reaching $34.80. The company’s stock had a trading volume of 168,992 shares, compared to its average volume of 124,242. Raven Industries, Inc. has a 52 week low of $24.35 and a 52 week high of $40.85. The firm has a market cap of $1,244.31, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.57.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, beating the 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 business had revenue of $101.35 million during the quarter, compared to analysts’ expectations of $84.54 million. research analysts predict that Raven Industries, Inc. will post 1.1 EPS for the current fiscal year.
Raven Industries declared that its board has authorized a stock repurchase plan on Monday, December 4th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the conglomerate to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, January 11th. Raven Industries’s payout ratio is currently 50.98%.
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Raven Industries 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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