Vanguard Group Inc. boosted its position in shares of Valspar Corp. (NYSE:VAL) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,020,605 shares of the company’s stock after buying an additional 347,634 shares during the period. Vanguard Group Inc. owned about 7.59% of Valspar Corp. worth $650,406,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VAL. Geode Capital Management LLC raised its position in 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 period. Goldman Sachs Group Inc. raised its position in Valspar Corp. by 14.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,411,666 shares of the company’s stock worth $151,076,000 after buying an additional 179,178 shares during the period. Accredited Investors Inc. raised its position in Valspar Corp. by 5.1% in the first quarter. Accredited Investors Inc. now owns 23,554 shares of the company’s stock worth $2,521,000 after buying an additional 1,137 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Valspar Corp. during the first quarter worth approximately $7,384,000. Finally, M&T Bank Corp purchased a new position in Valspar Corp. during the first quarter worth approximately $280,000. Hedge funds and other institutional investors own 71.89% of the company’s stock.
Shares of Valspar Corp. (NYSE:VAL) traded down 0.12% during trading on Friday, hitting $106.04. 35,637 shares of the stock traded hands. The stock has a market cap of $8.41 billion, a PE ratio of 24.37 and a beta of 1.44. The firm’s 50-day moving average price is $105.83 and its 200-day moving average price is $105.96. Valspar Corp. has a 12 month low of $72.38 and a 12 month high of $108.97.
Valspar Corp. (NYSE:VAL) last released its quarterly earnings results on Wednesday, September 7th. The company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.12. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. The firm earned $1.14 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company earned $1.33 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that Valspar Corp. will post $4.94 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.24%. Valspar Corp.’s dividend payout ratio is presently 30.41%.
VAL has been the subject of several research reports. Zacks Investment Research upgraded shares of Valspar Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Morgan Stanley reiterated a “sell” rating on shares of Valspar Corp. in a research report on Thursday, June 16th. Deutsche Bank AG reiterated a “hold” rating on shares of Valspar Corp. in a research 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 research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a strong buy rating to the company. Valspar Corp. has a consensus rating of “Hold” and a consensus 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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