Raven Industries, Inc. (RAVN) Stake Decreased by Neuberger Berman Group LLC
Neuberger Berman Group LLC cut its stake in Raven Industries, Inc. (NASDAQ:RAVN) by 5.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,854,879 shares of the conglomerate’s stock after selling 111,892 shares during the period. Neuberger Berman Group LLC owned about 5.13% of Raven Industries worth $61,767,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in Raven Industries during the first quarter valued at approximately $111,000. State of Alaska Department of Revenue boosted its position in Raven Industries by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 3,980 shares of the conglomerate’s stock valued at $115,000 after buying an additional 70 shares during the period. Nordea Investment Management AB acquired a new position in Raven Industries during the first quarter valued at approximately $166,000. Capstone Asset Management Co. acquired a new position in Raven Industries during the second quarter valued at approximately $201,000. Finally, Marshall Wace North America L.P. acquired a new position in Raven Industries during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 73.08% of the company’s stock.
Raven Industries, Inc. (RAVN) opened at 27.95 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 $1.01 billion, a price-to-earnings ratio of 33.23 and a beta of 1.43. The stock’s 50 day moving average price is $32.83 and its 200 day moving average price is $31.83.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Raven Industries had a net margin of 9.57% and a return on equity of 11.67%. The business had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $81.48 million. On average, equities research analysts anticipate that Raven Industries, Inc. will post $0.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, October 12th. Raven Industries’s dividend payout ratio is 61.18%.
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RAVN has been the topic of several research reports. BidaskClub cut Raven Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Dougherty & Co restated a “buy” rating on shares of Raven Industries in a research note on Friday, August 18th. SunTrust Banks, Inc. initiated coverage on Raven Industries in a research note on Friday, August 18th. They set a “hold” rating and a $36.00 price objective on the stock. Finally, Piper Jaffray Companies set a $33.00 price objective on Raven Industries and gave the company a “hold” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Raven Industries has a consensus rating of “Hold” and a consensus target price of $30.67.
In other Raven Industries news, Director Marc E. Lebaron purchased 1,457 shares of the business’s stock in a transaction on Monday, August 28th. The stock was purchased at an average price of $27.55 per share, for a total transaction of $40,140.35. Following the completion of the purchase, the director now directly owns 3,457 shares in the company, valued at $95,240.35. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
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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