North Point Portfolio Managers Corp OH lowered its position in Valspar Corp. (NYSE:VAL) by 16.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,169 shares of the company’s stock after selling 24,056 shares during the period. Valspar Corp. comprises about 2.7% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 15th largest position. North Point Portfolio Managers Corp OH’s holdings in Valspar Corp. were worth $13,630,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Valspar Corp. during the fourth quarter worth $54,037,000. Aperio Group LLC raised its stake in Valspar Corp. by 18.5% in the first quarter. Aperio Group LLC now owns 23,938 shares of the company’s stock worth $2,562,000 after buying an additional 3,739 shares during the last quarter. IFP Advisors Inc raised its stake in Valspar Corp. by 159.8% in the first quarter. IFP Advisors Inc now owns 4,905 shares of the company’s stock worth $525,000 after buying an additional 3,017 shares during the last quarter. Teachers Advisors Inc. raised its stake in Valspar Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 85,458 shares of the company’s stock worth $9,146,000 after buying an additional 3,449 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Valspar Corp. during the first quarter worth $1,216,000. 71.96% of the stock is currently owned by hedge funds and other institutional investors.
Valspar Corp. (NYSE:VAL) traded down 0.30% on Monday, hitting $106.27. 410,979 shares of the company were exchanged. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 24.42 and a beta of 1.44. Valspar Corp. has a 52 week low of $70.58 and a 52 week high of $108.97. The stock has a 50 day moving average of $105.77 and a 200 day moving average of $105.21.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.12. The firm earned $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. Valspar Corp.’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. Analysts predict that Valspar Corp. will post $4.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is presently 30.41%.
A number of equities research analysts have weighed in on VAL shares. Zacks Investment Research raised shares of Valspar Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Morgan Stanley reissued a “sell” rating on shares of Valspar Corp. in a report on Thursday, June 16th. Deutsche Bank AG reissued a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. Finally, Barclays PLC set a $110.00 target price on shares of Valspar Corp. and gave the stock a “hold” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $98.14.
About Valspar Corp.
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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