OppenheimerFunds Inc. Sells 6,239 Shares of Raven Industries, Inc. (RAVN)

OppenheimerFunds Inc. decreased its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 45.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,580 shares of the conglomerate’s stock after selling 6,239 shares during the quarter. OppenheimerFunds Inc.’s holdings in Raven Industries were worth $261,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Raven Industries in the 3rd quarter valued at $100,000. Sei Investments Co. acquired a new position in shares of Raven Industries in the 3rd quarter valued at $120,000. Oppenheimer Asset Management Inc. increased its position in shares of Raven Industries by 1,450.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,690 shares of the conglomerate’s stock worth $120,000 after purchasing an additional 3,452 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Raven Industries during the 3rd quarter worth about $149,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Raven Industries during the 3rd quarter worth about $205,000. Institutional investors own 75.10% of the company’s stock.

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In related news, Director Rick Parod acquired 3,200 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were purchased at an average price of $35.92 per share, with a total value of $114,944.00. Following the acquisition, the director now directly owns 3,200 shares in the company, valued at $114,944. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Shares of RAVN stock opened at $34.40 on Friday. The stock has a market cap of $1,260.39, a PE ratio of 30.92, a P/E/G ratio of 2.23 and a beta of 1.63. Raven Industries, Inc. has a 1 year low of $26.35 and a 1 year high of $40.85.

Raven Industries (NASDAQ:RAVN) last announced its earnings results on Tuesday, March 6th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The firm had revenue of $95.82 million for the quarter, compared to analyst estimates of $97.22 million. Raven Industries had a return on equity of 15.29% and a net margin of 10.87%. equities research analysts expect that Raven Industries, Inc. will post 1.58 earnings per share for the current year.

Raven Industries announced that its Board of Directors has approved a share repurchase program on Monday, December 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, April 12th. Raven Industries’s dividend payout ratio (DPR) is currently 46.02%.

A number of equities research analysts recently issued reports on the stock. SunTrust Banks upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Wednesday, January 31st. Dougherty & Co cut shares of Raven Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 5th. BidaskClub cut shares of Raven Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Zacks Investment Research upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Raven Industries currently has an average rating of “Buy” and a consensus price target of $35.75.

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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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Institutional Ownership by Quarter for Raven Industries (NASDAQ:RAVN)

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