Raven Industries, Inc. (RAVN) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 13.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,690 shares of the conglomerate’s stock after purchasing an additional 8,194 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Raven Industries worth $2,355,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of RAVN. Victory Capital Management Inc. bought a new position in Raven Industries in the 1st quarter valued at $111,000. Nordea Investment Management AB acquired a new stake in shares of Raven Industries in the 1st quarter valued at $166,000. Capstone Asset Management Co. acquired a new stake in shares of Raven Industries in the 2nd quarter valued at $201,000. Savant Capital LLC acquired a new stake in shares of Raven Industries in the 2nd quarter valued at $216,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Raven Industries by 12.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,673 shares of the conglomerate’s stock valued at $223,000 after buying an additional 822 shares during the period. Hedge funds and other institutional investors own 73.05% of the company’s stock.
RAVN has been the subject of several research reports. BidaskClub cut Raven Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. SunTrust Banks, Inc. initiated coverage on Raven Industries in a research note on Friday, August 18th. They issued a “hold” rating and a $36.00 target price for the company. Piper Jaffray Companies set a $33.00 target price on Raven Industries and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Dougherty & Co reissued a “buy” rating on shares of Raven Industries in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.50.
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In other news, Director Marc E. Lebaron purchased 1,457 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $27.55 per share, for a total transaction of $40,140.35. Following the purchase, the director now owns 3,457 shares of the company’s stock, valued at $95,240.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.
Shares of Raven Industries, Inc. (NASDAQ:RAVN) opened at 30.85 on Friday. The stock has a 50 day moving average price of $31.19 and a 200 day moving average price of $31.90. The firm has a market capitalization of $1.12 billion, a PE ratio of 36.68 and a beta of 1.42. Raven Industries, Inc. has a 1-year low of $20.21 and a 1-year high of $37.40.
Raven Industries (NASDAQ:RAVN) last announced its quarterly 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 return on equity of 11.67% and a net margin of 9.57%. The company had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $81.48 million. Equities research analysts anticipate that Raven Industries, Inc. will post $0.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, October 12th. Raven Industries’s payout ratio is 61.18%.
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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