Bbva Compass Bancshares Inc. decreased its position in Valspar Corp. (NYSE:VAL) by 21.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,500 shares of the company’s stock after selling 4,346 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Valspar Corp. were worth $1,675,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Valspar Corp. by 6.1% in the first quarter. Envestnet Asset Management Inc. now owns 94,408 shares of the company’s stock valued at $10,104,000 after buying an additional 5,464 shares during the period. Coastland Capital LLC acquired a new stake in shares of Valspar Corp. during the first quarter valued at about $2,676,000. Renaissance Technologies LLC raised its stake in shares of Valspar Corp. by 253.6% in the first quarter. Renaissance Technologies LLC now owns 276,400 shares of the company’s stock valued at $29,580,000 after buying an additional 198,225 shares during the period. Glazer Capital LLC acquired a new stake in shares of Valspar Corp. during the first quarter valued at about $1,070,000. Finally, Geode Capital Management LLC raised its stake in shares of Valspar Corp. by 5.7% in the first quarter. Geode Capital Management LLC now owns 438,997 shares of the company’s stock valued at $46,981,000 after buying an additional 23,496 shares during the period. 71.87% of the stock is currently owned by institutional investors and hedge funds.
Valspar Corp. (NYSE:VAL) traded down 0.28% on Friday, reaching $105.11. 147,480 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $105.81 and its 200 day moving average is $106.78. Valspar Corp. has a 52 week low of $72.98 and a 52 week high of $108.97. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 24.15 and a beta of 1.53.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings data on Wednesday, September 7th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.12. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 EPS. On average, equities analysts anticipate that Valspar Corp. will post $4.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.25%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s payout ratio is 30.41%.
Several brokerages have issued reports on VAL. Barclays PLC set a $110.00 price target on shares of Valspar Corp. and gave the company a “hold” rating in a report on Monday, September 12th. Zacks Investment Research raised shares of Valspar Corp. from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Thursday, October 6th. Morgan Stanley reissued a “sell” rating on shares of Valspar Corp. in a report on Thursday, June 16th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Valspar Corp. in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $100.39.
About Valspar Corp.
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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