Raven Industries (RAVN) Position Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Raven Industries (NASDAQ:RAVN) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,700 shares of the conglomerate’s stock after selling 16,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Raven Industries were worth $4,902,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. American International Group Inc. raised its stake in shares of Raven Industries by 5.8% during the third quarter. American International Group Inc. now owns 28,628 shares of the conglomerate’s stock worth $928,000 after acquiring an additional 1,559 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Raven Industries by 27.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,074 shares of the conglomerate’s stock worth $277,000 after acquiring an additional 1,742 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Raven Industries during the third quarter worth approximately $100,000. Profit Investment Management LLC raised its stake in shares of Raven Industries by 6.0% during the fourth quarter. Profit Investment Management LLC now owns 58,915 shares of the conglomerate’s stock worth $2,024,000 after acquiring an additional 3,351 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Raven Industries by 5.7% during the fourth quarter. Swiss National Bank now owns 62,900 shares of the conglomerate’s stock worth $2,161,000 after acquiring an additional 3,400 shares in the last quarter. 74.97% of the stock is currently owned by hedge funds and other institutional investors.

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RAVN stock opened at $36.15 on Tuesday. The company has a market cap of $1,266.88, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.48. Raven Industries has a one year low of $26.70 and a one year high of $40.85.

Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Tuesday, March 6th. The conglomerate reported $0.24 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.07). Raven Industries had a return on equity of 15.29% and a net margin of 10.87%. The business had revenue of $95.82 million for the quarter, compared to analysts’ expectations of $97.22 million. sell-side analysts predict that Raven Industries will post 1.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, April 12th. Raven Industries’s dividend payout ratio is 45.61%.

In other news, Director Rick Parod bought 3,200 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were purchased 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 owns 3,200 shares of the company’s stock, valued at $114,944. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Several research analysts have commented on the stock. SunTrust Banks raised shares of Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, January 31st. Dougherty & Co raised shares of Raven Industries from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Thursday, March 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Raven Industries currently has an average rating of “Buy” and an average target price of $35.75.

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Raven Industries Profile

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, and aerospace/defense markets worldwide. The company operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable growers to enhance farm yields.

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Institutional Ownership by Quarter for Raven Industries (NASDAQ:RAVN)

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