State Board of Administration of Florida Retirement System lowered its position in Raven Industries, Inc. (NASDAQ:RAVN) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,601 shares of the conglomerate’s stock after selling 1,060 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Raven Industries were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Chicago Equity Partners LLC acquired a new stake in shares of Raven Industries during the first quarter worth $1,531,000. Great West Life Assurance Co. Can boosted its stake in shares of Raven Industries by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 49,661 shares of the conglomerate’s stock worth $1,442,000 after buying an additional 1,187 shares during the period. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of Raven Industries by 22.1% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 23,985 shares of the conglomerate’s stock worth $697,000 after buying an additional 4,336 shares during the period. Strs Ohio acquired a new stake in shares of Raven Industries during the first quarter worth $880,000. Finally, Profit Investment Management LLC boosted its stake in shares of Raven Industries by 66.3% in the first quarter. Profit Investment Management LLC now owns 40,179 shares of the conglomerate’s stock worth $1,167,000 after buying an additional 16,020 shares during the period. 73.97% of the stock is owned by hedge funds and other institutional investors.

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

Raven Industries, Inc. (NASDAQ RAVN) opened at 34.95 on Friday. The firm has a 50-day moving average of $33.28 and a 200-day moving average of $28.71. Raven Industries, Inc. has a 52-week low of $18.01 and a 52-week high of $37.40. The stock has a market capitalization of $1.26 billion, a PE ratio of 46.79 and a beta of 1.35.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. The business had revenue of $93.54 million for the quarter. On average, equities analysts expect that Raven Industries, Inc. will post $0.98 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.49%. Raven Industries’s payout ratio is presently 70.27%.

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Separately, TheStreet raised shares of Raven Industries from a “c” rating to a “b-” rating in a research report on Thursday, February 23rd.

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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