Vident Investment Advisory LLC raised its stake in Raven Industries, Inc. (NASDAQ:RAVN) by 23.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 959,117 shares of the conglomerate’s stock after purchasing an additional 180,906 shares during the quarter. Raven Industries accounts for 1.5% of Vident Investment Advisory LLC’s portfolio, making the stock its 6th biggest position. Vident Investment Advisory LLC owned 2.68% of Raven Industries worth $32,945,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. American International Group Inc. lifted its position in Raven Industries by 5.8% in the third quarter. American International Group Inc. now owns 28,628 shares of the conglomerate’s stock valued at $928,000 after purchasing an additional 1,559 shares during the last quarter. Teachers Advisors LLC lifted its position in Raven Industries by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 66,528 shares of the conglomerate’s stock valued at $2,285,000 after purchasing an additional 1,644 shares during the last quarter. First Trust Advisors LP lifted its position in Raven Industries by 15.5% in the third quarter. First Trust Advisors LP now owns 12,813 shares of the conglomerate’s stock valued at $415,000 after purchasing an additional 1,720 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Raven Industries by 27.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,074 shares of the conglomerate’s stock valued at $277,000 after purchasing an additional 1,742 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in Raven Industries by 16.5% in the third quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the conglomerate’s stock valued at $502,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.
Several brokerages have weighed in on RAVN. Dougherty & Co upgraded Raven Industries from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, March 8th. Zacks Investment Research upgraded 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. Finally, SunTrust Banks upgraded 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $35.75.
In other Raven Industries news, Director Rick Parod bought 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average price of $35.92 per share, for a total transaction of $114,944.00. Following the completion of the acquisition, the director now directly owns 3,200 shares in the company, valued at $114,944. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.
Shares of Raven Industries stock opened at $35.30 on Friday. The company has a market cap of $1,254.68, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.49. Raven Industries, Inc. has a 52 week low of $26.70 and a 52 week high of $40.85.
Raven Industries (NASDAQ:RAVN) last announced 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). The business had revenue of $95.82 million for the quarter, compared to the consensus estimate of $97.22 million. Raven Industries had a net margin of 10.87% and a return on equity of 15.29%. research analysts expect that Raven Industries, Inc. will post 1.58 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. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. Raven Industries’s dividend payout ratio is presently 45.61%.
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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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