Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Raven Industries, Inc. (NASDAQ:RAVN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,591 shares of the conglomerate’s stock, valued at approximately $292,000.
Other large investors also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in shares of Raven Industries by 441.7% during the second quarter. AdvisorNet Financial Inc now owns 3,250 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 2,650 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Raven Industries by 82.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,649 shares of the conglomerate’s stock worth $128,000 after purchasing an additional 1,650 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Raven Industries by 61.4% during the first quarter. Russell Investments Group Ltd. now owns 4,357 shares of the conglomerate’s stock worth $153,000 after purchasing an additional 1,657 shares during the last quarter. Algert Global LLC bought a new stake in shares of Raven Industries during the first quarter worth $213,000. Finally, Amalgamated Bank bought a new stake in shares of Raven Industries during the second quarter worth $225,000. Hedge funds and other institutional investors own 74.40% of the company’s stock.
Shares of RAVN opened at $48.50 on Friday. Raven Industries, Inc. has a 12-month low of $27.65 and a 12-month high of $49.80. The firm has a market cap of $1.74 billion, a PE ratio of 42.54, a PEG ratio of 3.04 and a beta of 1.64.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Wednesday, August 22nd. The conglomerate reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. Raven Industries had a return on equity of 18.75% and a net margin of 13.69%. The business had revenue of $102.68 million for the quarter. analysts forecast that Raven Industries, Inc. will post 1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, October 11th. Raven Industries’s dividend payout ratio (DPR) is presently 45.61%.
Several analysts have recently commented on RAVN shares. BidaskClub upgraded Raven Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. ValuEngine upgraded Raven Industries from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, May 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.50.
Raven Industries Profile
Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, and aerospace/defense markets worldwide. The company operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable growers to enhance farm yields.
Further Reading: Investing in Growth Stocks
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