California State Teachers Retirement System cut its holdings in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 10.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,025 shares of the conglomerate’s stock after selling 7,472 shares during the period. California State Teachers Retirement System owned 0.18% of Raven Industries worth $2,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of Raven Industries by 0.3% during the second quarter. Stifel Financial Corp now owns 29,837 shares of the conglomerate’s stock valued at $993,000 after purchasing an additional 103 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Raven Industries by 0.9% during the second quarter. Texas Permanent School Fund now owns 26,350 shares of the conglomerate’s stock valued at $877,000 after purchasing an additional 231 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Raven Industries by 4.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,520 shares of the conglomerate’s stock valued at $284,000 after purchasing an additional 390 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Raven Industries by 0.7% during the first quarter. Legal & General Group Plc now owns 62,496 shares of the conglomerate’s stock valued at $1,815,000 after purchasing an additional 459 shares in the last quarter. Finally, Connors Investor Services Inc. boosted its stake in shares of Raven Industries by 0.8% during the second quarter. Connors Investor Services Inc. now owns 75,141 shares of the conglomerate’s stock valued at $2,502,000 after purchasing an additional 576 shares in the last quarter. Hedge funds and other institutional investors own 72.86% of the company’s stock.

Shares of Raven Industries, Inc. (NASDAQ:RAVN) opened at $32.40 on Tuesday. Raven Industries, Inc. has a 52-week low of $23.65 and a 52-week high of $37.40. The company has a market cap of $1,173.35, a P/E ratio of 38.24, a P/E/G ratio of 3.41 and a beta of 1.45.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.23. Raven Industries had a net margin of 9.57% and a return on equity of 11.67%. The company had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $81.48 million. analysts anticipate that Raven Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. Raven Industries’s payout ratio is 61.18%.

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A number of equities analysts have recently issued reports on the stock. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 price objective on shares of Raven Industries in a research note on Sunday, October 1st. BidaskClub cut shares of Raven Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Dougherty & Co reissued a “buy” rating on shares of Raven Industries in a research report on Friday, August 18th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Raven Industries in a research report on Friday, August 18th. They set a “hold” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.50.

In other news, Director Marc E. Lebaron bought 1,457 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $95,240.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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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