California State Teachers Retirement System decreased its stake in Raven Industries, Inc. (NASDAQ:RAVN) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,897 shares of the conglomerate’s stock after selling 6,128 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Raven Industries worth $1,876,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Stifel Financial Corp boosted its stake in Raven Industries by 0.3% in the 2nd quarter. Stifel Financial Corp now owns 29,837 shares of the conglomerate’s stock valued at $993,000 after buying an additional 103 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in 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 buying an additional 257 shares in the last quarter. Connors Investor Services Inc. boosted its stake in Raven Industries by 0.8% in the 2nd quarter. Connors Investor Services Inc. now owns 75,141 shares of the conglomerate’s stock valued at $2,502,000 after buying an additional 576 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Raven Industries by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,510 shares of the conglomerate’s stock valued at $150,000 after buying an additional 675 shares in the last quarter. Finally, Arlington Value Capital LLC boosted its stake in Raven Industries by 2.9% in the 2nd quarter. Arlington Value Capital LLC now owns 25,039 shares of the conglomerate’s stock valued at $833,000 after buying an additional 700 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Raven Industries, Inc. (RAVN) opened at $35.55 on Friday. The company has a market capitalization of $1,270.00, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 3.56 and a beta of 1.48. Raven Industries, Inc. has a one year low of $23.65 and a one year high of $38.35.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $101.35 million for the quarter, compared to analyst estimates of $84.54 million. Raven Industries had a return on equity of 13.88% and a net margin of 10.56%. equities research analysts anticipate that Raven Industries, Inc. will post 1.02 earnings per share for the current fiscal year.
The firm 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Thursday, January 11th. Raven Industries’s dividend payout ratio is currently 50.98%.
Raven Industries declared that its board has approved a share repurchase program on Monday, December 4th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
RAVN has been the topic of several recent analyst reports. Zacks Investment Research raised Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, December 8th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.00 price target on shares of Raven Industries in a research note on Sunday, October 1st. BidaskClub lowered Raven Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Dougherty & Co lowered Raven Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.
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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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