Capco Asset Management LLC Reduces Position in Raven Industries, Inc. (RAVN)
Capco Asset Management LLC lowered its position in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 21.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 457,302 shares of the conglomerate’s stock after selling 122,976 shares during the period. Raven Industries accounts for 13.3% of Capco Asset Management LLC’s holdings, making the stock its 2nd largest position. Capco Asset Management LLC owned 1.26% of Raven Industries worth $15,228,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RAVN. BlackRock Inc. raised its position in shares of Raven Industries by 63,965.5% in the first quarter. BlackRock Inc. now owns 4,433,973 shares of the conglomerate’s stock worth $128,808,000 after buying an additional 4,427,052 shares during the period. Norges Bank acquired a new position in shares of Raven Industries during the fourth quarter worth approximately $13,433,000. Vident Investment Advisory LLC raised its position in shares of Raven Industries by 242.8% in the first quarter. Vident Investment Advisory LLC now owns 248,338 shares of the conglomerate’s stock worth $7,214,000 after buying an additional 175,898 shares during the period. ClariVest Asset Management LLC raised its position in shares of Raven Industries by 1,181.2% in the first quarter. ClariVest Asset Management LLC now owns 158,147 shares of the conglomerate’s stock worth $4,596,000 after buying an additional 145,803 shares during the period. Finally, Neuberger Berman Group LLC raised its position in shares of 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 period. 71.53% of the stock is currently owned by institutional investors.
Raven Industries, Inc. (NASDAQ:RAVN) opened at 34.85 on Wednesday. The company’s 50-day moving average price is $34.29 and its 200-day moving average price is $31.43. Raven Industries, Inc. has a 12-month low of $20.21 and a 12-month high of $37.40. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 46.65 and a beta of 1.36.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.10. Raven Industries had a return on equity of 10.32% and a net margin of 8.85%. The business had revenue of $93.54 million for the quarter. Equities analysts expect that Raven Industries, Inc. will post $0.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, July 5th. Raven Industries’s dividend payout ratio (DPR) is presently 70.27%.
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A number of research analysts have recently commented on RAVN shares. BidaskClub lowered Raven Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Piper Jaffray Companies set a $33.00 price target on Raven Industries and gave the company a “hold” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.00.
About Raven Industries
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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