First Trust Advisors LP Invests $369,000 in Raven Industries, Inc. (RAVN) Stock
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%.
COPYRIGHT VIOLATION NOTICE: “First Trust Advisors LP Invests $369,000 in Raven Industries, Inc. (RAVN) Stock” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.thecerbatgem.com/2017/09/28/first-trust-advisors-lp-invests-369000-in-raven-industries-inc-ravn-stock.html.
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).
Want to see what other hedge funds are holding RAVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raven Industries, Inc. (NASDAQ:RAVN).
Receive News & Stock Ratings for Raven Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries Inc. and related stocks with our FREE daily email newsletter.