Virginia Retirement Systems ET AL bought a new stake in shares of Raven Industries Inc. (NASDAQ:RAVN) during the second quarter, Holdings Channel reports. The fund bought 42,900 shares of the company’s stock, valued at approximately $813,000. Virginia Retirement Systems ET AL owned approximately 0.12% of Raven Industries at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in shares of Raven Industries during the first quarter valued at about $170,000. Suntrust Banks Inc. boosted its position in shares of Raven Industries by 0.4% in the second quarter. Suntrust Banks Inc. now owns 11,902 shares of the company’s stock valued at $224,000 after buying an additional 42 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Raven Industries during the second quarter valued at about $261,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Raven Industries during the second quarter valued at about $440,000. Finally, Teton Advisors Inc. boosted its position in shares of Raven Industries by 4.2% in the second quarter. Teton Advisors Inc. now owns 25,080 shares of the company’s stock valued at $475,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Shares of Raven Industries Inc. (NASDAQ:RAVN) opened at 23.03 on Monday. The company has a market capitalization of $833.85 million, a price-to-earnings ratio of 91.03 and a beta of 1.10. The stock’s 50 day moving average price is $22.88 and its 200 day moving average price is $19.18. Raven Industries Inc. has a 1-year low of $12.88 and a 1-year high of $25.47.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. Raven Industries had a net margin of 3.60% and a return on equity of 5.81%. The firm earned $68 million during the quarter. Analysts expect that Raven Industries Inc. will post $0.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, October 12th. Raven Industries’s dividend payout ratio (DPR) is presently 200.00%.
Separately, Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, September 16th.
Raven Industries Company Profile
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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