United Services Automobile Association Acquires Shares of 5,522 Raven Industries, Inc. (RAVN)

United Services Automobile Association acquired a new position in shares of Raven Industries, Inc. (NASDAQ:RAVN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,522 shares of the conglomerate’s stock, valued at approximately $212,000.

Other institutional investors also recently made changes to their positions in the company. Northern Trust Corp raised its position in Raven Industries by 1.1% in the second quarter. Northern Trust Corp now owns 534,650 shares of the conglomerate’s stock valued at $20,558,000 after purchasing an additional 5,658 shares during the period. Zacks Investment Management purchased a new stake in Raven Industries in the second quarter valued at $1,280,000. Raymond James & Associates purchased a new stake in Raven Industries in the second quarter valued at $230,000. King Luther Capital Management Corp raised its position in Raven Industries by 5.1% in the second quarter. King Luther Capital Management Corp now owns 244,398 shares of the conglomerate’s stock valued at $9,397,000 after purchasing an additional 11,815 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in Raven Industries in the second quarter valued at $687,000. Hedge funds and other institutional investors own 74.27% of the company’s stock.

Shares of NASDAQ RAVN opened at $42.88 on Tuesday. Raven Industries, Inc. has a twelve month low of $31.45 and a twelve month high of $49.80. The firm has a market capitalization of $1.53 billion, a PE ratio of 29.08, a PEG ratio of 2.69 and a beta of 1.61.

Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings data on Wednesday, August 22nd. The conglomerate reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. Raven Industries had a return on equity of 18.75% and a net margin of 13.69%. The business had revenue of $102.68 million during the quarter. Sell-side analysts predict that Raven Industries, Inc. will post 1.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.21%. Raven Industries’s payout ratio is presently 45.61%.

RAVN has been the topic of a number of research analyst reports. BidaskClub upgraded Raven Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. ValuEngine raised Raven Industries from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Finally, Zacks Investment Research cut Raven Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Raven Industries currently has a consensus rating of “Buy” and a consensus target price of $39.67.

About Raven Industries

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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