Dynamic Technology Lab Private Ltd purchased a new position in Raven Industries, Inc. (NASDAQ:RAVN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,664 shares of the conglomerate’s stock, valued at approximately $549,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of RAVN. Teacher Retirement System of Texas bought a new position in shares of Raven Industries in the fourth quarter worth approximately $426,000. Swiss National Bank boosted its position in shares of Raven Industries by 5.7% in the fourth quarter. Swiss National Bank now owns 62,900 shares of the conglomerate’s stock worth $2,161,000 after purchasing an additional 3,400 shares during the period. First Trust Advisors LP boosted its position in shares of Raven Industries by 314.2% in the fourth quarter. First Trust Advisors LP now owns 53,070 shares of the conglomerate’s stock worth $1,823,000 after purchasing an additional 40,257 shares during the period. Wells Fargo & Company MN boosted its position in shares of Raven Industries by 19.5% in the fourth quarter. Wells Fargo & Company MN now owns 59,725 shares of the conglomerate’s stock worth $2,052,000 after purchasing an additional 9,760 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Raven Industries by 221.4% in the fourth quarter. Arizona State Retirement System now owns 60,095 shares of the conglomerate’s stock worth $2,064,000 after purchasing an additional 41,395 shares during the period. Institutional investors and hedge funds own 73.92% of the company’s stock.
Raven Industries opened at $38.45 on Friday, MarketBeat reports. Raven Industries, Inc. has a one year low of $26.70 and a one year high of $42.40. The firm has a market capitalization of $1.40 billion, a PE ratio of 33.73, a P/E/G ratio of 2.45 and a beta of 1.52.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Thursday, May 17th. The conglomerate reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Raven Industries had a net margin of 12.87% and a return on equity of 17.03%. The firm had revenue of $111.13 million for the quarter. research analysts expect that Raven Industries, Inc. will post 1.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, July 12th. Raven Industries’s dividend payout ratio (DPR) is presently 45.61%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Raven Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine raised shares of Raven Industries from a “hold” rating to a “buy” rating in a report on Monday, May 7th. BidaskClub raised shares of Raven Industries from a “hold” rating to a “buy” rating in a report on Saturday, April 21st. Finally, Dougherty & Co raised shares of 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $37.50.
Raven Industries Company 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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