Raven Industries, Inc. (RAVN) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its stake in Raven Industries, Inc. (NASDAQ:RAVN) by 28.9% in the 4th quarter, Holdings Channel reports. The firm owned 85,952 shares of the conglomerate’s stock after selling 34,900 shares during the period. Gamco Investors INC. ET AL’s holdings in Raven Industries were worth $2,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capco Asset Management LLC increased its position in shares of Raven Industries by 1.0% in the 3rd quarter. Capco Asset Management LLC now owns 462,026 shares of the conglomerate’s stock worth $14,970,000 after purchasing an additional 4,724 shares during the last quarter. State Street Corp grew its position in shares of Raven Industries by 6.2% during the 2nd quarter. State Street Corp now owns 879,504 shares of the conglomerate’s stock valued at $29,288,000 after buying an additional 51,451 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Raven Industries during the 2nd quarter valued at about $260,000. Wells Fargo & Company MN grew its position in shares of Raven Industries by 37.5% during the 2nd quarter. Wells Fargo & Company MN now owns 37,900 shares of the conglomerate’s stock valued at $1,262,000 after buying an additional 10,328 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Raven Industries by 3.9% during the 2nd quarter. BlackRock Inc. now owns 4,607,096 shares of the conglomerate’s stock valued at $153,418,000 after buying an additional 173,123 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Shares of Raven Industries, Inc. (NASDAQ RAVN) opened at $34.80 on Friday. Raven Industries, Inc. has a 1 year low of $24.35 and a 1 year high of $40.85. The firm has a market cap of $1,244.31, a PE ratio of 34.12, a P/E/G ratio of 2.75 and a beta of 1.57.

Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. The business had revenue of $101.35 million during the quarter, compared to the consensus estimate of $84.54 million. sell-side analysts predict that Raven Industries, Inc. will post 1.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Thursday, January 11th. Raven Industries’s dividend payout ratio is presently 50.98%.

Raven Industries declared that its board has initiated a share repurchase plan on Monday, December 4th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the conglomerate to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

A number of equities 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 $38.00 price objective for the company in a research report on Friday, December 8th. Dougherty & Co downgraded shares of Raven Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 5th. BidaskClub downgraded shares of Raven Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, SunTrust Banks raised shares of 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $35.00.

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

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