Pier Capital LLC raised its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 86.3% in the 4th quarter, Holdings Channel reports. The firm owned 169,500 shares of the conglomerate’s stock after purchasing an additional 78,526 shares during the quarter. Pier Capital LLC’s holdings in Raven Industries were worth $5,822,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in RAVN. Vident Investment Advisory LLC raised its position in shares of Raven Industries by 97.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 778,211 shares of the conglomerate’s stock worth $25,214,000 after acquiring an additional 385,032 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Raven Industries in the 4th quarter worth about $2,988,000. Assenagon Asset Management S.A. bought a new position in shares of Raven Industries in the 4th quarter worth about $1,887,000. Deutsche Bank AG raised its position in shares of Raven Industries by 86.9% in the 4th quarter. Deutsche Bank AG now owns 102,721 shares of the conglomerate’s stock worth $3,526,000 after acquiring an additional 47,762 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Raven Industries by 1.0% in the 4th quarter. BlackRock Inc. now owns 4,428,651 shares of the conglomerate’s stock worth $152,125,000 after acquiring an additional 41,956 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on RAVN shares. Zacks Investment Research raised Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, December 8th. Dougherty & Co lowered Raven Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 5th. BidaskClub lowered Raven Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, SunTrust Banks raised Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Raven Industries presently has an average rating of “Buy” and an average price target of $35.75.
Shares of Raven Industries, Inc. (NASDAQ RAVN) opened at $35.95 on Tuesday. Raven Industries, Inc. has a 12-month low of $26.35 and a 12-month high of $40.85. The company has a market capitalization of $1,201.39, a PE ratio of 29.47, a P/E/G ratio of 2.37 and a beta of 1.63.
Raven Industries (NASDAQ:RAVN) last issued its earnings results on Tuesday, March 6th. The conglomerate reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). Raven Industries had a net margin of 10.87% and a return on equity of 15.29%. The firm had revenue of $95.82 million during the quarter, compared to the consensus estimate of $97.22 million. equities analysts predict that Raven Industries, Inc. will post 1.42 EPS for the current year.
Raven Industries announced that its Board of Directors has approved a share repurchase plan on Monday, December 4th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the conglomerate to repurchase 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 announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, April 12th. Raven Industries’s payout ratio is 46.02%.
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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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