Bank of New York Mellon Corp decreased its holdings in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 515,144 shares of the conglomerate’s stock after selling 11,225 shares during the period. Bank of New York Mellon Corp owned approximately 1.43% of Raven Industries worth $16,691,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its stake in Raven Industries by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock valued at $106,000 after buying an additional 257 shares during the period. Schroder Investment Management Group bought a new stake in Raven Industries during the second quarter valued at $111,000. Quantbot Technologies LP boosted its stake in Raven Industries by 115.9% during the second quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock valued at $112,000 after buying an additional 1,806 shares during the period. Sei Investments Co. bought a new stake in Raven Industries during the third quarter valued at $120,000. Finally, Victory Capital Management Inc. lifted its stake in Raven Industries by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,510 shares of the conglomerate’s stock worth $150,000 after purchasing an additional 675 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

Shares of Raven Industries, Inc. (RAVN) opened at $35.00 on Tuesday. Raven Industries, Inc. has a 52 week low of $23.65 and a 52 week high of $38.35. The stock has a market capitalization of $1,204.98, a PE ratio of 33.04, a price-to-earnings-growth ratio of 3.30 and a beta of 1.48.

Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $101.35 million during the quarter, compared to analyst estimates of $84.54 million. equities analysts predict that Raven Industries, Inc. will post 1.02 earnings per share for the current fiscal year.

Raven Industries announced that its Board of Directors has initiated a stock buyback program on Monday, December 4th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, January 11th. Raven Industries’s dividend payout ratio (DPR) is currently 50.98%.

RAVN has been the subject of several research analyst reports. BidaskClub lowered Raven Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $31.00 price target on Raven Industries and gave the stock a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research raised Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, December 8th. Finally, Dougherty & Co lowered Raven Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 5th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.00.

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Raven Industries 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).

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

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