Everence Capital Management Inc. Buys New Position in Raven Industries, Inc. (RAVN)
Everence Capital Management Inc. bought a new stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,150 shares of the conglomerate’s stock, valued at approximately $259,000.
Several other institutional investors and hedge funds have also bought and sold shares of RAVN. Renaissance Technologies LLC increased its stake in shares of Raven Industries by 9.6% during the second quarter. Renaissance Technologies LLC now owns 139,200 shares of the conglomerate’s stock valued at $5,352,000 after buying an additional 12,200 shares during the period. Raymond James & Associates purchased a new stake in Raven Industries in the second quarter worth $230,000. Northern Trust Corp grew its stake in Raven Industries by 1.1% in the second quarter. Northern Trust Corp now owns 534,650 shares of the conglomerate’s stock worth $20,558,000 after purchasing an additional 5,658 shares during the period. United Services Automobile Association purchased a new stake in Raven Industries in the second quarter worth $212,000. Finally, First National Bank Sioux Falls grew its stake in Raven Industries by 13.6% in the third quarter. First National Bank Sioux Falls now owns 10,449 shares of the conglomerate’s stock worth $478,000 after purchasing an additional 1,252 shares during the period. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on RAVN. BidaskClub raised Raven Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. ValuEngine cut Raven Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Wednesday, November 28th. The conglomerate reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The company had revenue of $104.83 million for the quarter. Raven Industries had a return on equity of 18.49% and a net margin of 13.82%. As a group, analysts predict that Raven Industries, Inc. will post 1.59 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Friday, January 11th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, January 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. Raven Industries’s dividend payout ratio is currently 45.61%.
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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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