Bahl & Gaynor Inc. lifted its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 2.6% in the third quarter, Holdings Channel reports. The fund owned 69,780 shares of the conglomerate’s stock after purchasing an additional 1,774 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Raven Industries were worth $3,192,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. BlueMountain Capital Management LLC lifted its stake in Raven Industries by 142.7% in the second quarter. BlueMountain Capital Management LLC now owns 21,054 shares of the conglomerate’s stock worth $810,000 after purchasing an additional 12,379 shares during the last quarter. United Services Automobile Association bought a new stake in Raven Industries in the second quarter worth about $212,000. Raymond James & Associates bought a new stake in Raven Industries in the second quarter worth about $230,000. Acadian Asset Management LLC bought a new stake in Raven Industries in the third quarter worth about $489,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Raven Industries by 932.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 67,860 shares of the conglomerate’s stock worth $3,105,000 after purchasing an additional 61,288 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.
RAVN has been the subject of several analyst reports. BidaskClub raised shares of Raven Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. ValuEngine raised shares of Raven Industries from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.67.
Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Wednesday, August 22nd. The conglomerate reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The business had revenue of $102.68 million during the quarter. Raven Industries had a net margin of 13.69% and a return on equity of 18.75%. On average, equities analysts forecast that Raven Industries, Inc. will post 1.59 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, October 11th. Raven Industries’s dividend payout ratio (DPR) is presently 45.61%.
About Raven Industries
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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