Municipal Employees Retirement System of Michigan held its stake in Raven Industries, Inc. (NASDAQ:RAVN) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,130 shares of the conglomerate’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Raven Industries were worth $236,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Neuberger Berman Group LLC boosted its stake in Raven Industries by 6.1% in the first quarter. Neuberger Berman Group LLC now owns 1,966,771 shares of the conglomerate’s stock worth $57,135,000 after buying an additional 112,760 shares during the last quarter. State Street Corp boosted its stake in Raven Industries by 7.8% in the fourth quarter. State Street Corp now owns 784,063 shares of the conglomerate’s stock worth $19,757,000 after buying an additional 56,716 shares during the last quarter. Norges Bank acquired a new stake in Raven Industries during the fourth quarter worth $13,433,000. Granite Investment Partners LLC boosted its stake in Raven Industries by 9.1% in the first quarter. Granite Investment Partners LLC now owns 405,212 shares of the conglomerate’s stock worth $11,771,000 after buying an additional 33,802 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Raven Industries by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 366,549 shares of the conglomerate’s stock worth $10,650,000 after buying an additional 2,280 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Raven Industries, Inc. (NASDAQ RAVN) opened at 34.40 on Monday. Raven Industries, Inc. has a 52-week low of $18.62 and a 52-week high of $37.40. The firm has a market cap of $1.24 billion, a PE ratio of 46.05 and a beta of 1.35. The stock has a 50 day moving average price of $33.96 and a 200-day moving average price of $29.27.
Raven Industries (NASDAQ:RAVN) last issued its earnings results on Monday, May 22nd. The conglomerate reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.10. The firm had revenue of $93.54 million during the quarter. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. On average, equities analysts anticipate that Raven Industries, Inc. will post $0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.51%. Raven Industries’s payout ratio is currently 70.27%.
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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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