Retirement Systems of Alabama raised its position in shares of Valspar Corp. (NYSE:VAL) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 176,875 shares of the company’s stock after buying an additional 347 shares during the period. Retirement Systems of Alabama’s holdings in Valspar Corp. were worth $19,108,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Valspar Corp. by 5.7% in the first quarter. Geode Capital Management LLC now owns 438,997 shares of the company’s stock worth $46,981,000 after buying an additional 23,496 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Valspar Corp. by 253.6% in the first quarter. Renaissance Technologies LLC now owns 276,400 shares of the company’s stock worth $29,580,000 after buying an additional 198,225 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Valspar Corp. during the first quarter worth $83,668,000. Teachers Advisors Inc. increased its stake in shares of 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, Coastland Capital LLC acquired a new stake in shares of Valspar Corp. during the first quarter worth $2,676,000. 71.89% of the stock is owned by institutional investors.
Valspar Corp. (NYSE:VAL) traded down 0.19% during trading on Thursday, reaching $106.17. The company had a trading volume of 189,691 shares. The company has a 50 day moving average price of $105.83 and a 200 day moving average price of $105.96. Valspar Corp. has a 52-week low of $72.38 and a 52-week high of $108.97. The company has a market capitalization of $8.42 billion, a PE ratio of 24.40 and a beta of 1.44.
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, beating the consensus estimate of $1.45 by $0.12. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 earnings per share. On average, equities analysts forecast that Valspar Corp. will post $4.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.24%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is 30.41%.
VAL has been the subject of a number of research analyst reports. Barclays PLC set a $110.00 price target on shares of Valspar Corp. and gave the company a “hold” rating in a report on Monday, September 12th. Zacks Investment Research upgraded Valspar Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Deutsche Bank AG restated a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. Finally, Morgan Stanley restated a “sell” rating on shares of Valspar Corp. in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price 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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