Alps Advisors Inc. lessened its holdings in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 14.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,228 shares of the conglomerate’s stock after selling 1,744 shares during the period. Alps Advisors Inc.’s holdings in Raven Industries were worth $468,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. First Trust Advisors LP grew its holdings in Raven Industries by 29.9% in the third quarter. First Trust Advisors LP now owns 102,330 shares of the conglomerate’s stock worth $4,682,000 after purchasing an additional 23,583 shares during the period. First National Bank Sioux Falls lifted its stake in shares of Raven Industries by 13.6% in the third quarter. First National Bank Sioux Falls now owns 10,449 shares of the conglomerate’s stock valued at $478,000 after buying an additional 1,252 shares in the last quarter. United Services Automobile Association bought a new position in shares of Raven Industries in the second quarter valued at $212,000. Northern Trust Corp lifted its stake in shares of Raven Industries by 1.1% in the second quarter. Northern Trust Corp now owns 534,650 shares of the conglomerate’s stock valued at $20,558,000 after buying an additional 5,658 shares in the last quarter. Finally, Zacks Investment Management bought a new position in shares of Raven Industries in the second quarter valued at $1,280,000. Hedge funds and other institutional investors own 74.46% of the company’s stock.
A number of research firms have weighed in on RAVN. Zacks Investment Research lowered shares of Raven Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub lowered shares of Raven Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, ValuEngine raised shares of Raven Industries from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $39.67.
Raven Industries (NASDAQ:RAVN) last released its quarterly earnings data on Wednesday, August 22nd. The conglomerate reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Raven Industries had a net margin of 13.69% and a return on equity of 18.75%. The firm had revenue of $102.68 million for the quarter. On average, equities research analysts anticipate that Raven Industries, Inc. will post 1.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, October 11th. Raven Industries’s dividend payout ratio (DPR) is 45.61%.
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Raven Industries Company Profile
Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, and aerospace/defense markets worldwide. The company operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable growers to enhance farm yields.
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