Rhumbline Advisers grew its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,698 shares of the conglomerate’s stock after purchasing an additional 11,675 shares during the quarter. Rhumbline Advisers owned about 0.23% of Raven Industries worth $2,875,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. American International Group Inc. increased its position in shares of Raven Industries by 5.8% during the 3rd quarter. American International Group Inc. now owns 28,628 shares of the conglomerate’s stock worth $928,000 after purchasing an additional 1,559 shares during the last quarter. First Trust Advisors LP increased its position in shares of Raven Industries by 15.5% during the 3rd quarter. First Trust Advisors LP now owns 12,813 shares of the conglomerate’s stock worth $415,000 after purchasing an additional 1,720 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Raven Industries by 27.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,074 shares of the conglomerate’s stock worth $277,000 after purchasing an additional 1,742 shares during the last quarter. Virginia Retirement Systems ET AL increased its holdings in shares of Raven Industries by 16.5% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the conglomerate’s stock worth $502,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Raven Industries during the 3rd quarter worth approximately $100,000. 75.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on RAVN. 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 report on Wednesday, January 31st. Dougherty & Co raised Raven Industries from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Thursday, March 8th. BidaskClub lowered Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research raised Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $35.75.
Raven Industries, Inc. (NASDAQ:RAVN) opened at $33.60 on Friday. The firm has a market capitalization of $1,201.40, a P/E ratio of 29.47, a P/E/G ratio of 2.37 and a beta of 1.63. Raven Industries, Inc. has a 1-year low of $26.35 and a 1-year high of $40.85.
Raven Industries (NASDAQ:RAVN) last posted its earnings results on Tuesday, March 6th. The conglomerate reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The business had revenue of $95.82 million for the quarter, compared to analyst estimates of $97.22 million. Raven Industries had a return on equity of 15.29% and a net margin of 10.87%. equities research analysts anticipate that Raven Industries, Inc. will post 1.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, April 12th. Raven Industries’s payout ratio is presently 46.02%.
Raven Industries declared that its board has authorized a share repurchase program on Monday, December 4th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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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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