California State Teachers Retirement System cut its stake in shares of Raven Industries Inc. (NASDAQ:RAVN) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,097 shares of the company’s stock after selling 4,013 shares during the period. California State Teachers Retirement System owned about 0.21% of Raven Industries worth $1,441,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Chilton Capital Management LLC bought a new stake in Raven Industries during the first quarter worth $170,000. Envestnet Asset Management Inc. increased its stake in Raven Industries by 43.9% in the first quarter. Envestnet Asset Management Inc. now owns 13,654 shares of the company’s stock worth $219,000 after buying an additional 4,165 shares during the last quarter. Cardinal Capital Management increased its stake in Raven Industries by 7.3% in the second quarter. Cardinal Capital Management now owns 33,658 shares of the company’s stock worth $637,000 after buying an additional 2,278 shares during the last quarter. Virginia Retirement System bought a new stake in Raven Industries during the first quarter worth $687,000. Finally, Essex Investment Management Co. LLC increased its stake in Raven Industries by 27.7% in the second quarter. Essex Investment Management Co. LLC now owns 43,389 shares of the company’s stock worth $822,000 after buying an additional 9,416 shares during the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.

Raven Industries Inc. (NASDAQ:RAVN) traded up 1.53% during mid-day trading on Wednesday, hitting $22.53. The stock had a trading volume of 139,792 shares. The firm’s 50-day moving average is $22.53 and its 200 day moving average is $18.80. The company has a market cap of $815.74 million, a price-to-earnings ratio of 89.05 and a beta of 1.11. Raven Industries Inc. has a 12 month low of $12.88 and a 12 month high of $25.47.

Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.03. The company earned $68 million during the quarter. Raven Industries had a return on equity of 5.81% and a net margin of 3.60%. Equities analysts anticipate that Raven Industries Inc. will post $0.50 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, October 12th. Raven Industries’s dividend payout ratio is currently 200.00%.

Separately, Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, September 16th.

Raven Industries Company Profile

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).

5 Day Chart for NASDAQ:RAVN

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