Monarch Capital Management Inc. cut its stake in shares of Valspar Corp. (NYSE:VAL) by 35.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,881 shares of the company’s stock after selling 2,144 shares during the period. Monarch Capital Management Inc.’s holdings in Valspar Corp. were worth $419,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Teachers Advisors Inc. boosted 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. BlackRock Japan Co. Ltd boosted its position in Valspar Corp. by 21.1% in the first quarter. BlackRock Japan Co. Ltd now owns 2,274 shares of the company’s stock valued at $243,000 after buying an additional 396 shares during the period. JPMorgan Chase & Co. boosted its position in Valspar Corp. by 191.9% in the first quarter. JPMorgan Chase & Co. now owns 608,624 shares of the company’s stock valued at $65,135,000 after buying an additional 400,130 shares during the period. M&T Bank Corp bought a new position in Valspar Corp. during the first quarter valued at about $280,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Valspar Corp. during the first quarter valued at about $7,384,000. Institutional investors and hedge funds own 71.87% of the company’s stock.
Valspar Corp. (NYSE:VAL) traded down 0.28% during trading on Friday, reaching $105.10. 260,255 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 firm has a market cap of $8.34 billion, a price-to-earnings ratio of 24.15 and a beta of 1.53. The firm has a 50-day moving average of $105.79 and a 200-day moving average of $106.76.
Valspar Corp. (NYSE:VAL) last announced its 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. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. The company earned $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Valspar Corp. will post $4.93 EPS for the current year.
VAL has been the subject of several recent analyst reports. Deutsche Bank AG reiterated a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. Zacks Investment Research upgraded shares of Valspar Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Finally, Barclays PLC set a $110.00 price objective on shares of Valspar Corp. and gave the company a “hold” rating in a report on Monday, September 12th. 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 given a strong buy rating to the company. Valspar Corp. has an average rating of “Hold” and an average target price of $100.39.
Valspar Corp. Company Profile
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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