Valspar Corp. (VAL) Raises Dividend to $0.37 Per Share
Valspar Corp. (NYSE:VAL) announced a quarterly dividend on Thursday, November 17th. Investors of record on Thursday, December 1st will be paid a dividend of 0.37 per share on Thursday, December 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.46%. This is a positive change from Valspar Corp.’s previous quarterly dividend of $0.33.
Shares of Valspar Corp. (NYSE:VAL) opened at 101.32 on Friday. The company has a 50 day moving average price of $103.64 and a 200 day moving average price of $106.05. Valspar Corp. has a 52 week low of $72.98 and a 52 week high of $108.97. The company has a market cap of $8.04 billion, a PE ratio of 23.28 and a beta of 1.65.
Valspar Corp. (NYSE:VAL) last issued its earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.12. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the business earned $1.33 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that Valspar Corp. will post $4.92 earnings per share for the current year.
A number of equities analysts have issued reports on VAL shares. Zacks Investment Research upgraded Valspar Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Thursday, October 6th. Barclays PLC set a $110.00 price target on Valspar Corp. and gave the stock a “hold” rating in a research report on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Valspar Corp. in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $100.39.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IndexIQ Advisors LLC bought a new position in Valspar Corp. during the second quarter worth $6,217,000. State of Wisconsin Investment Board increased its position in Valspar Corp. by 25.8% in the second quarter. State of Wisconsin Investment Board now owns 71,355 shares of the company’s stock worth $7,708,000 after buying an additional 14,650 shares in the last quarter. Lebenthal Asset Management LLC bought a new position in Valspar Corp. during the second quarter worth $1,861,000. American International Group Inc. increased its position in Valspar Corp. by 0.3% in the second quarter. American International Group Inc. now owns 140,777 shares of the company’s stock worth $15,208,000 after buying an additional 408 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Valspar Corp. by 1.6% in the second quarter. Alliancebernstein L.P. now owns 58,957 shares of the company’s stock worth $6,369,000 after buying an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 72.80% of the company’s stock.
Valspar Corp. Company Profile
The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America.
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