Wells Fargo & Company MN cut its stake in shares of The Valspar Corp (NYSE:VAL) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,429 shares of the specialty chemicals company’s stock after selling 33,925 shares during the period. Wells Fargo & Company MN owned 0.15% of The Valspar Corp worth $13,139,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in The Valspar Corp during the fourth quarter valued at about $2,033,000. Water Island Capital LLC raised its stake in shares of The Valspar Corp by 11.8% in the third quarter. Water Island Capital LLC now owns 684,322 shares of the specialty chemicals company’s stock worth $72,586,000 after buying an additional 72,313 shares during the period. Credit Suisse AG raised its stake in shares of The Valspar Corp by 7.6% in the third quarter. Credit Suisse AG now owns 1,550,425 shares of the specialty chemicals company’s stock worth $164,453,000 after buying an additional 109,627 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of The Valspar Corp by 90.6% in the third quarter. Ameritas Investment Partners Inc. now owns 21,977 shares of the specialty chemicals company’s stock worth $2,331,000 after buying an additional 10,446 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in The Valspar Corp by 25.8% in the third quarter. Ontario Teachers Pension Plan Board now owns 20,000 shares of the specialty chemicals company’s stock valued at $2,121,000 after buying an additional 4,100 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.
Shares of The Valspar Corp (VAL) remained flat at $112.99 on Monday. The firm has a 50 day moving average of $112.59 and a 200-day moving average of $109.64. The Valspar Corp has a 1-year low of $97.62 and a 1-year high of $113.07.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, May 30th. The Valspar Corp’s dividend payout ratio (DPR) is presently 34.02%.
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A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of The Valspar Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Credit Suisse Group restated a “hold” rating and issued a $111.00 price target on shares of The Valspar Corp in a research report on Tuesday, March 14th.
The Valspar Corp Company Profile
The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America.
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