Raven Industries, Inc. (RAVN) Sees Large Growth in Short Interest

Raven Industries, Inc. (NASDAQ:RAVN) saw a significant growth in short interest in the month of April. As of April 28th, there was short interest totalling 537,936 shares, a growth of 15.1% from the April 13th total of 467,418 shares. Based on an average daily volume of 127,862 shares, the days-to-cover ratio is currently 4.2 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Raven Industries during the first quarter valued at approximately $111,000. State of Alaska Department of Revenue raised 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 last quarter. Nordea Investment Management AB bought a new position in Raven Industries during the first quarter valued at approximately $166,000. Marshwinds Advisory Co. bought a new position in Raven Industries during the first quarter valued at approximately $221,000. Finally, BNP Paribas Arbitrage SA raised its position in Raven Industries by 12.0% in the first quarter. BNP Paribas Arbitrage SA now owns 7,673 shares of the conglomerate’s stock valued at $223,000 after buying an additional 822 shares during the last quarter. 73.97% of the stock is owned by hedge funds and other institutional investors.

Raven Industries (NASDAQ RAVN) traded up 0.57% during trading on Monday, reaching $35.15. 211,741 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $33.28 and a 200-day moving average of $28.71. The stock has a market cap of $1.27 billion, a PE ratio of 47.05 and a beta of 1.35. Raven Industries has a 12 month low of $18.01 and a 12 month high of $37.40.

Raven Industries (NASDAQ:RAVN) last issued its earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.10. Raven Industries had a return on equity of 10.32% and a net margin of 8.85%. The business had revenue of $93.54 million during the quarter. On average, equities research analysts anticipate that Raven Industries will post $0.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, July 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, July 5th. Raven Industries’s payout ratio is 70.27%.

Separately, TheStreet upgraded shares of Raven Industries from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd.

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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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