Essex Investment Management Co. LLC lifted its position in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 65.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,085 shares of the conglomerate’s stock after buying an additional 16,610 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Raven Industries were worth $1,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RAVN. Russell Investments Group Ltd. acquired a new stake in shares of Raven Industries during the third quarter worth $100,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Raven Industries by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after buying an additional 257 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Raven Industries during the third quarter worth $120,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Raven Industries by 1,450.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,690 shares of the conglomerate’s stock worth $120,000 after buying an additional 3,452 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Raven Industries during the third quarter worth $149,000. 74.19% of the stock is owned by institutional investors.

Raven Industries, Inc. (NASDAQ RAVN) opened at $34.90 on Wednesday. Raven Industries, Inc. has a 12-month low of $23.75 and a 12-month high of $40.85. The company has a market capitalization of $1,231.78, a price-to-earnings ratio of 33.78, a P/E/G ratio of 2.72 and a beta of 1.57.

Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.10. Raven Industries had a return on equity of 13.88% and a net margin of 10.56%. The company had revenue of $101.35 million for the quarter, compared to analysts’ expectations of $84.54 million. equities analysts forecast that Raven Industries, Inc. will post 1.1 earnings per share for the current fiscal year.

Raven Industries declared that its Board of Directors has approved a share buyback program on Monday, December 4th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th 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 was Thursday, January 11th. Raven Industries’s payout ratio is currently 50.98%.

A number of equities research analysts have recently weighed in on RAVN shares. BidaskClub downgraded Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. SunTrust Banks raised Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, January 31st. Zacks Investment Research raised Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Friday, December 8th. Finally, Dougherty & Co downgraded Raven Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Raven Industries has a consensus rating of “Hold” and an average target price of $35.00.

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

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