Signaturefd LLC held its stake in Valspar Corp. (NYSE:VAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the company’s stock at the end of the second quarter. Signaturefd LLC’s holdings in Valspar Corp. were worth $162,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of VAL. Renaissance Technologies LLC increased its stake in Valspar Corp. by 253.6% in the first quarter. Renaissance Technologies LLC now owns 276,400 shares of the company’s stock valued at $29,580,000 after buying an additional 198,225 shares during the period. Geode Capital Management LLC increased its stake in Valspar Corp. by 5.7% in the first quarter. Geode Capital Management LLC now owns 438,997 shares of the company’s stock valued at $46,981,000 after buying an additional 23,496 shares during the period. ING Groep NV bought a new stake in Valspar Corp. during the second quarter valued at $10,802,000. Magnetar Financial LLC acquired a new position in Valspar Corp. during the first quarter valued at approximately $83,668,000. Finally, Teachers Advisors Inc. increased its position in Valspar Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 85,458 shares of the company’s stock valued at $9,146,000 after buying an additional 3,449 shares during the period. Hedge funds and other institutional investors own 71.87% of the company’s stock.
Shares of Valspar Corp. (NYSE:VAL) traded down 0.27% during midday trading on Friday, reaching $105.12. 165,139 shares of the company were exchanged. Valspar Corp. has a 52-week low of $72.98 and a 52-week high of $108.97. The company has a market capitalization of $8.34 billion, a PE ratio of 24.15 and a beta of 1.53. The stock’s 50-day moving average price is $105.81 and its 200-day moving average price is $106.78.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.12. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.18 billion. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. Valspar Corp.’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share. Analysts anticipate that Valspar Corp. will post $4.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is presently 30.41%.
VAL has been the subject of several research reports. Barclays PLC set a $110.00 price target on shares of Valspar Corp. and gave the stock a “hold” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded shares of Valspar Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Deutsche Bank AG restated a “hold” rating on shares of Valspar Corp. in a research note on Thursday, September 8th. Finally, Morgan Stanley restated a “sell” rating on shares of Valspar Corp. in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Valspar Corp. has a consensus rating of “Hold” and a consensus price target of $100.39.
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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