The Manufacturers Life Insurance Company trimmed its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,982 shares of the conglomerate’s stock after selling 48 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Raven Industries worth $931,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in shares of Raven Industries in the 2nd quarter worth approximately $243,000. State Street Corp raised its holdings in shares of Raven Industries by 6.2% in the 2nd quarter. State Street Corp now owns 879,504 shares of the conglomerate’s stock worth $29,288,000 after purchasing an additional 51,451 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Raven Industries in the 2nd quarter worth approximately $312,000. Balyasny Asset Management LLC bought a new stake in shares of Raven Industries in the 2nd quarter worth approximately $5,192,000. Finally, Arlington Value Capital LLC raised its holdings in shares of Raven Industries by 2.9% in the 2nd quarter. Arlington Value Capital LLC now owns 25,039 shares of the conglomerate’s stock worth $833,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 72.86% of the company’s stock.
Raven Industries, Inc. (NASDAQ:RAVN) opened at $32.55 on Wednesday. The firm has a market cap of $1,169.74, a P/E ratio of 38.12, a PEG ratio of 3.40 and a beta of 1.45. Raven Industries, Inc. has a 1 year low of $23.65 and a 1 year high of $37.40.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $86.61 million for the quarter, compared to the consensus estimate of $81.48 million. Raven Industries had a net margin of 9.57% and a return on equity of 11.67%. sell-side analysts anticipate that Raven Industries, Inc. will post 0.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, October 12th. Raven Industries’s dividend payout ratio (DPR) is currently 61.18%.
In other news, Director Marc E. Lebaron bought 1,457 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average cost of $27.55 per share, with a total value of $40,140.35. Following the completion of the transaction, the director now directly owns 3,457 shares in the company, valued at approximately $95,240.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.
A number of research firms recently commented on RAVN. BidaskClub downgraded shares of Raven Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $33.00 target price on shares of Raven Industries and gave the stock a “hold” rating in a report on Thursday, July 27th. SunTrust Banks, Inc. began coverage on shares of Raven Industries in a report on Friday, August 18th. They issued a “hold” rating and a $36.00 target price on the stock. Finally, Dougherty & Co reiterated a “buy” rating on shares of Raven Industries in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Raven Industries has a consensus rating of “Hold” and a consensus target price of $33.50.
About Raven Industries
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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