Savant Capital LLC Acquires New Stake in Raven Industries, Inc. (RAVN)
Savant Capital LLC acquired a new position in Raven Industries, Inc. (NASDAQ:RAVN) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,485 shares of the conglomerate’s stock, valued at approximately $216,000.
A number of other institutional investors have also recently added to or reduced their stakes in RAVN. Victory Capital Management Inc. purchased a new position in Raven Industries during the first quarter worth approximately $111,000. State of Alaska Department of Revenue increased its position 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 in the last quarter. Nordea Investment Management AB purchased a new position in Raven Industries during the first quarter worth approximately $166,000. Capstone Asset Management Co. purchased a new position in Raven Industries during the second quarter worth approximately $201,000. Finally, BNP Paribas Arbitrage SA increased its position 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 in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Raven Industries, Inc. (RAVN) opened at 34.85 on Wednesday. The firm has a market cap of $1.26 billion, a P/E ratio of 46.65 and a beta of 1.36. Raven Industries, Inc. has a one year low of $20.21 and a one year high of $37.40. The firm’s 50-day moving average price is $34.29 and its 200 day moving average price is $31.43.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Monday, May 22nd. The conglomerate reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.10. The firm had revenue of $93.54 million for the quarter. Raven Industries had a return on equity of 10.32% and a net margin of 8.85%. On average, equities research analysts forecast that Raven Industries, Inc. will post $0.98 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.49%. The ex-dividend date was Wednesday, July 5th. Raven Industries’s payout ratio is 70.27%.
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RAVN has been the topic of a number of 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 stock a “hold” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Raven Industries presently has a consensus rating of “Hold” and an average target price 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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