Credit Suisse AG Reduces Stake in Raven Industries, Inc. (RAVN)
Credit Suisse AG cut its position in Raven Industries, Inc. (NASDAQ:RAVN) by 11.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,964 shares of the conglomerate’s stock after selling 6,161 shares during the period. Credit Suisse AG’s holdings in Raven Industries were worth $1,422,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in Raven Industries by 63,965.5% in the first quarter. BlackRock Inc. now owns 4,433,973 shares of the conglomerate’s stock worth $128,808,000 after buying an additional 4,427,052 shares during the period. Vanguard Group Inc. increased its stake in Raven Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,187,381 shares of the conglomerate’s stock worth $92,593,000 after buying an additional 40,385 shares during the period. Neuberger Berman Group LLC increased its stake in Raven Industries by 6.1% in the first quarter. Neuberger Berman Group LLC now owns 1,966,771 shares of the conglomerate’s stock worth $57,135,000 after buying an additional 112,760 shares during the period. State Street Corp increased its stake in Raven Industries by 5.6% in the first quarter. State Street Corp now owns 828,053 shares of the conglomerate’s stock worth $24,054,000 after buying an additional 43,990 shares during the period. Finally, Norges Bank acquired a new stake in Raven Industries during the fourth quarter worth $13,433,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Raven Industries, Inc. (RAVN) traded down 0.14% during mid-day trading on Wednesday, hitting $34.80. 31,879 shares of the stock were exchanged. Raven Industries, Inc. has a 52-week low of $20.21 and a 52-week high of $37.40. The stock has a market cap of $1.26 billion, a PE ratio of 46.59 and a beta of 1.36. The stock’s 50 day moving average is $34.29 and its 200 day moving average is $31.43.
Raven Industries (NASDAQ:RAVN) last issued its earnings results on Monday, May 22nd. The conglomerate reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.10. The business had revenue of $93.54 million during the quarter. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. Analysts forecast that Raven Industries, Inc. will post $0.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, July 5th. Raven Industries’s dividend payout ratio (DPR) is 70.27%.
A number of analysts have recently weighed in on RAVN shares. BidaskClub downgraded shares of Raven Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. 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. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.00.
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).
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