Raven Industries, Inc. (RAVN) Position Lowered by Royce & Associates LP
Royce & Associates LP cut its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,855,555 shares of the conglomerate’s stock after selling 16,600 shares during the period. Royce & Associates LP owned about 5.13% of Raven Industries worth $61,790,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in RAVN. BlackRock Inc. increased its stake in Raven Industries by 63,965.5% in the first quarter. BlackRock Inc. now owns 4,433,973 shares of the conglomerate’s stock valued at $128,808,000 after buying an additional 4,427,052 shares during the last quarter. Vident Investment Advisory LLC increased its stake in Raven Industries by 242.8% in the first quarter. Vident Investment Advisory LLC now owns 248,338 shares of the conglomerate’s stock valued at $7,214,000 after buying an additional 175,898 shares during the last quarter. ClariVest Asset Management LLC increased its stake in Raven Industries by 1,181.2% in the first quarter. ClariVest Asset Management LLC now owns 158,147 shares of the conglomerate’s stock valued at $4,596,000 after buying an additional 145,803 shares during the last quarter. Neuberger Berman Group LLC increased 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 valued at $57,135,000 after buying an additional 112,760 shares during the last quarter. Finally, Tygh Capital Management Inc. purchased a new stake in Raven Industries during the second quarter valued at $3,275,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Shares of Raven Industries, Inc. (NASDAQ:RAVN) opened at 27.35 on Friday. Raven Industries, Inc. has a 12-month low of $20.21 and a 12-month high of $37.40. The company has a market capitalization of $990.21 million, a P/E ratio of 32.52 and a beta of 1.36. The company has a 50 day moving average price of $33.84 and a 200 day moving average price of $31.73.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. The firm had revenue of $86.61 million during the quarter, compared to the consensus estimate of $81.48 million. Raven Industries had a return on equity of 11.67% and a net margin of 9.57%. Equities analysts anticipate that Raven Industries, Inc. will post $0.98 EPS for the current year.
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RAVN has been the subject of several recent research reports. Piper Jaffray Companies set a $33.00 price objective on Raven Industries and gave the company a “hold” rating in a report on Thursday, July 27th. BidaskClub downgraded Raven Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. SunTrust Banks, Inc. initiated coverage on Raven Industries in a report on Friday, August 18th. They issued a “hold” rating and a $36.00 price objective for the company. Finally, Dougherty & Co restated a “buy” rating on shares of Raven Industries in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.33.
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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