Profit Investment Management LLC lowered its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,874 shares of the conglomerate’s stock after selling 6,305 shares during the period. Profit Investment Management LLC owned about 0.09% of Raven Industries worth $1,128,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in RAVN. Comerica Bank raised its stake in Raven Industries by 5.7% in the fourth quarter. Comerica Bank now owns 38,813 shares of the conglomerate’s stock valued at $947,000 after buying an additional 2,094 shares during the last quarter. State Street Corp raised its stake 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 last quarter. Federated Investors Inc. PA acquired a new stake in Raven Industries during the fourth quarter valued at $312,000. Norges Bank acquired a new stake in Raven Industries during the fourth quarter valued at $13,433,000. Finally, Perigon Wealth Management LLC acquired a new stake in Raven Industries during the fourth quarter valued at $443,000. Hedge funds and other institutional investors own 73.47% of the company’s stock.
Raven Industries, Inc. (NASDAQ:RAVN) traded down 1.43% during mid-day trading on Thursday, reaching $34.50. 20,141 shares of the company’s stock traded hands. Raven Industries, Inc. has a 12 month low of $18.81 and a 12 month high of $37.40. The stock has a market capitalization of $1.25 billion, a PE ratio of 46.18 and a beta of 1.35. The firm’s 50-day moving average price is $34.71 and its 200 day moving average price is $30.13.
Raven Industries (NASDAQ:RAVN) last issued its 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. The firm had revenue of $93.54 million during the quarter. Raven Industries had a return on equity of 10.32% and a net margin of 8.85%. Equities research analysts predict that Raven Industries, Inc. will post $0.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $0.52 annualized dividend and a yield of 1.49%. Raven Industries’s dividend payout ratio (DPR) is currently 70.27%.
Separately, BidaskClub lowered shares of Raven Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Raven Industries currently has a consensus rating of “Buy” and a consensus price target of $24.00.
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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