First Trust Advisors LP bought a new position in shares of Raven Industries, Inc. (NASDAQ:RAVN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,093 shares of the conglomerate’s stock, valued at approximately $369,000.

A number of other institutional investors also recently made changes to their positions in RAVN. Prudential Financial Inc. boosted its position in shares of Raven Industries by 52.7% in the first quarter. Prudential Financial Inc. now owns 94,824 shares of the conglomerate’s stock valued at $2,755,000 after acquiring an additional 32,730 shares during the period. Vanguard Group Inc. boosted its position in shares of Raven Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,187,381 shares of the conglomerate’s stock valued at $92,593,000 after acquiring an additional 40,385 shares during the period. Swiss National Bank boosted its position in shares of Raven Industries by 4.6% in the first quarter. Swiss National Bank now owns 59,500 shares of the conglomerate’s stock valued at $1,728,000 after acquiring an additional 2,600 shares during the period. Bank of America Corp DE boosted its position in shares of Raven Industries by 52.7% in the first quarter. Bank of America Corp DE now owns 198,573 shares of the conglomerate’s stock valued at $5,769,000 after acquiring an additional 68,565 shares during the period. Finally, State of Tennessee Treasury Department boosted its position in shares of Raven Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 33,990 shares of the conglomerate’s stock valued at $987,000 after acquiring an additional 5,130 shares during the period. 73.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Raven Industries, Inc. (NASDAQ:RAVN) opened at 32.50 on Thursday. Raven Industries, Inc. has a 52-week low of $20.21 and a 52-week high of $37.40. The company has a market capitalization of $1.18 billion, a PE ratio of 38.64 and a beta of 1.42. The stock has a 50 day moving average price of $31.19 and a 200 day moving average price of $31.90.

Raven Industries (NASDAQ:RAVN) last issued its earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Raven Industries had a return on equity of 11.67% and a net margin of 9.57%. The company had revenue of $86.61 million during the quarter, compared to the consensus estimate of $81.48 million. On average, analysts predict that Raven Industries, Inc. will post $0.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. Raven Industries’s dividend payout ratio is currently 61.18%.

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RAVN has been the subject of several research reports. Piper Jaffray Companies set a $33.00 price objective on Raven Industries and gave the company a “hold” rating in a research report on Thursday, July 27th. BidaskClub cut Raven Industries from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Dougherty & Co reissued a “buy” rating on shares of Raven Industries in a research report on Friday, August 18th. Finally, SunTrust Banks, Inc. initiated coverage on Raven Industries in a research report on Friday, August 18th. They issued a “hold” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.50.

In other Raven Industries news, Director Marc E. Lebaron bought 1,457 shares of Raven Industries stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $27.55 per share, for a total transaction of $40,140.35. Following the purchase, the director now owns 3,457 shares of the company’s stock, valued at approximately $95,240.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

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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Institutional Ownership by Quarter for Raven Industries (NASDAQ:RAVN)

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