Van ECK Associates Corp raised its stake in The Valspar Corp (NYSE:VAL) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 963 shares of the specialty chemicals company’s stock after buying an additional 67 shares during the period. Van ECK Associates Corp’s holdings in The Valspar Corp were worth $107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mn Services Vermogensbeheer B.V. increased its stake in shares of The Valspar Corp by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,010 shares of the specialty chemicals company’s stock valued at $208,000 after buying an additional 112 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of The Valspar Corp by 13.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,150 shares of the specialty chemicals company’s stock valued at $239,000 after buying an additional 250 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of The Valspar Corp during the fourth quarter valued at approximately $251,000. Menta Capital LLC purchased a new stake in shares of The Valspar Corp during the fourth quarter valued at approximately $255,000. Finally, Riverbridge Partners LLC purchased a new stake in shares of The Valspar Corp during the first quarter valued at approximately $271,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for The Valspar Corp (NYSE:VAL)

The Valspar Corp (NYSE:VAL) remained flat at $112.99 during trading on Friday. 4,673,480 shares of the stock were exchanged. The Valspar Corp has a 1-year low of $97.62 and a 1-year high of $113.07. The company’s 50 day moving average is $112.59 and its 200-day moving average is $109.64. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 26.86 and a beta of 1.63.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, May 30th. The Valspar Corp’s dividend payout ratio is 34.02%.

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VAL has been the subject of several research reports. Zacks Investment Research upgraded The Valspar Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 22nd. Credit Suisse Group restated a “hold” rating and issued a $111.00 target price on shares of The Valspar Corp in a research note on Tuesday, March 14th.

The Valspar Corp Company Profile

The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America.

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