UBS Asset Management Americas Inc. held its position in Raven Industries, Inc. (NASDAQ:RAVN) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 8,299 shares of the conglomerate’s stock at the end of the first quarter. UBS Asset Management Americas Inc.’s holdings in Raven Industries were worth $241,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Raven Industries by 7.8% in the fourth quarter. State Street Corp now owns 784,063 shares of the conglomerate’s stock valued at $19,757,000 after buying an additional 56,716 shares during the period. Norges Bank purchased a new position in Raven Industries during the fourth quarter valued at $13,433,000. Teachers Advisors LLC increased its position in shares of Raven Industries by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 59,583 shares of the conglomerate’s stock worth $1,501,000 after buying an additional 1,345 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Raven Industries by 10.5% in the first quarter. Confluence Investment Management LLC now owns 133,211 shares of the conglomerate’s stock worth $3,869,000 after buying an additional 12,605 shares during the last quarter. Finally, Marshwinds Advisory Co. bought a new position in shares of Raven Industries during the first quarter worth approximately $221,000. Institutional investors and hedge funds own 71.53% of the company’s stock.
Shares of Raven Industries, Inc. (RAVN) opened at 31.70 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 42.44 and a beta of 1.36. Raven Industries, Inc. has a one year low of $20.21 and a one year high of $37.40. The firm’s 50-day moving average price is $34.29 and its 200-day moving average price is $31.51.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Monday, May 22nd. The conglomerate reported $0.34 EPS for the quarter, topping the consensus estimate of $0.24 by $0.10. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. The business had revenue of $93.54 million for the quarter. Equities research analysts anticipate that Raven Industries, Inc. will post $0.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. Raven Industries’s dividend payout ratio is presently 70.27%.
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RAVN has been the subject of several recent analyst reports. BidaskClub cut Raven Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Piper Jaffray Companies set a $33.00 target price on Raven Industries and gave the stock a “hold” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. assumed coverage on Raven Industries in a research note on Friday. They issued a “hold” rating and a $36.00 price objective for the company. Finally, Dougherty & Co reiterated a “buy” rating on shares of Raven Industries in a report on Friday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.33.
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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