Bank of New York Mellon Corp cut its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 488,806 shares of the conglomerate’s stock after selling 19,491 shares during the quarter. Bank of New York Mellon Corp’s holdings in Raven Industries were worth $18,795,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Raven Industries by 20.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,026 shares of the conglomerate’s stock valued at $1,270,000 after purchasing an additional 5,715 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Raven Industries by 2.0% in the second quarter. Rhumbline Advisers now owns 86,919 shares of the conglomerate’s stock valued at $3,342,000 after purchasing an additional 1,738 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Raven Industries in the second quarter valued at $292,000. First Trust Advisors LP grew its holdings in shares of Raven Industries by 36.0% in the second quarter. First Trust Advisors LP now owns 78,747 shares of the conglomerate’s stock valued at $3,028,000 after purchasing an additional 20,845 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Raven Industries by 27.6% in the second quarter. Alps Advisors Inc. now owns 16,002 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 3,466 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.
NASDAQ RAVN opened at $48.05 on Monday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.02 and a beta of 1.64. Raven Industries, Inc. has a 52 week low of $29.90 and a 52 week high of $49.80.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Wednesday, August 22nd. The conglomerate reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $102.68 million during the quarter. Raven Industries had a net margin of 13.69% and a return on equity of 18.75%. equities analysts anticipate that Raven Industries, Inc. will post 1.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.08%. The ex-dividend date is Thursday, October 11th. Raven Industries’s payout ratio is 45.61%.
A number of research analysts recently weighed in on RAVN shares. Zacks Investment Research raised shares of Raven Industries from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, May 23rd. BidaskClub lowered shares of Raven Industries from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Finally, ValuEngine raised shares of Raven Industries from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Raven Industries has an average rating of “Buy” and an average target price of $37.50.
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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