Louisiana State Employees Retirement System Holds Position in Raven Industries, Inc. (RAVN)
Louisiana State Employees Retirement System held its stake in Raven Industries, Inc. (NASDAQ:RAVN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,700 shares of the conglomerate’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Raven Industries were worth $490,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in RAVN. Victory Capital Management Inc. bought a new stake in Raven Industries during the first quarter worth $111,000. State of Alaska Department of Revenue increased its stake in Raven Industries by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 3,980 shares of the conglomerate’s stock worth $115,000 after buying an additional 70 shares during the last quarter. Nordea Investment Management AB bought a new stake in Raven Industries during the first quarter worth $166,000. Capstone Asset Management Co. bought a new stake in Raven Industries during the second quarter worth $201,000. Finally, BNP Paribas Arbitrage SA increased its stake in Raven Industries by 12.0% in the first quarter. BNP Paribas Arbitrage SA now owns 7,673 shares of the conglomerate’s stock worth $223,000 after buying an additional 822 shares during the last quarter. 73.55% of the stock is currently owned by institutional investors.
Raven Industries, Inc. (NASDAQ:RAVN) traded down 0.30% during midday trading on Friday, reaching $33.65. The company’s stock had a trading volume of 96,219 shares. Raven Industries, Inc. has a 52 week low of $20.21 and a 52 week high of $37.40. The firm has a 50 day moving average price of $34.19 and a 200-day moving average price of $31.20. The firm has a market cap of $1.22 billion, a P/E ratio of 45.05 and a beta of 1.36.
Raven Industries (NASDAQ:RAVN) last announced its earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.10. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. The firm had revenue of $93.54 million for the quarter. On average, analysts forecast that Raven Industries, Inc. will post $0.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.55%. Raven Industries’s payout ratio is presently 70.27%.
RAVN has been the topic of a number of recent research reports. BidaskClub downgraded 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 price objective on Raven Industries and gave the company a “hold” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Raven Industries presently has a consensus rating of “Hold” and an average price target of $29.00.
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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