Geode Capital Management LLC increased its stake in Raven Industries, Inc. (NASDAQ:RAVN) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 322,019 shares of the conglomerate’s stock after buying an additional 3,451 shares during the period. Geode Capital Management LLC’s holdings in Raven Industries were worth $11,061,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RAVN. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Raven Industries in the fourth quarter worth $2,988,000. Assenagon Asset Management S.A. bought a new stake in shares of Raven Industries in the fourth quarter worth $1,887,000. BlackRock Inc. increased its stake in shares of Raven Industries by 1.0% in the fourth quarter. BlackRock Inc. now owns 4,428,651 shares of the conglomerate’s stock worth $152,125,000 after buying an additional 41,956 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Raven Industries by 221.4% in the fourth quarter. Arizona State Retirement System now owns 60,095 shares of the conglomerate’s stock worth $2,064,000 after buying an additional 41,395 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Raven Industries by 314.2% in the fourth quarter. First Trust Advisors LP now owns 53,070 shares of the conglomerate’s stock worth $1,823,000 after buying an additional 40,257 shares during the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.
RAVN has been the subject of a number of research analyst reports. SunTrust Banks upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, January 31st. Dougherty & Co upgraded shares of Raven Industries from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Thursday, March 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $35.75.
Raven Industries (NASDAQ:RAVN) last released its quarterly earnings data on Tuesday, March 6th. The conglomerate reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The business had revenue of $95.82 million during 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 analysts forecast that Raven Industries, Inc. will post 1.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, April 12th. Raven Industries’s dividend payout ratio is presently 45.61%.
In other Raven Industries news, Director Rick Parod acquired 3,200 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was purchased at an average price of $35.92 per share, with a total value of $114,944.00. Following the completion of the acquisition, the director now directly owns 3,200 shares in the company, valued at approximately $114,944. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/3340206/raven-industries-inc-ravn-shares-bought-by-geode-capital-management-llc.html.
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).
Want to see what other hedge funds are holding RAVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raven Industries, Inc. (NASDAQ:RAVN).
Receive News & Ratings for Raven Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries and related companies with MarketBeat.com's FREE daily email newsletter.