Essex Investment Management Co. LLC raised its position in Raven Industries, Inc. (NASDAQ:RAVN) by 27.7% during the second quarter, Holdings Channel reports. The fund owned 43,389 shares of the company’s stock after buying an additional 9,416 shares during the period. Essex Investment Management Co. LLC’s holdings in Raven Industries were worth $822,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Confluence Investment Management LLC raised its stake in Raven Industries by 6.7% in the second quarter. Confluence Investment Management LLC now owns 106,521 shares of the company’s stock valued at $2,018,000 after buying an additional 6,727 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in Raven Industries during the first quarter valued at about $170,000. Goldman Sachs Group Inc. raised its stake in Raven Industries by 157.6% in the first quarter. Goldman Sachs Group Inc. now owns 45,994 shares of the company’s stock valued at $737,000 after buying an additional 28,139 shares in the last quarter. Diversified Investment Strategies LLC raised its stake in Raven Industries by 1.3% in the first quarter. Diversified Investment Strategies LLC now owns 82,860 shares of the company’s stock valued at $1,327,000 after buying an additional 1,060 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Raven Industries by 26.2% in the first quarter. Royce & Associates LP now owns 2,130,132 shares of the company’s stock valued at $34,125,000 after buying an additional 442,734 shares in the last quarter. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Shares of Raven Industries, Inc. (NASDAQ:RAVN) traded down 1.54% during trading on Tuesday, reaching $22.43. 114,946 shares of the company traded hands. Raven Industries, Inc. has a 12-month low of $12.88 and a 12-month high of $25.47. The firm’s 50-day moving average is $22.98 and its 200-day moving average is $19.35. The stock has a market capitalization of $812.12 million, a PE ratio of 88.66 and a beta of 1.10.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Raven Industries had a net margin of 3.60% and a return on equity of 5.81%. The company had revenue of $68 million for the quarter. On average, equities analysts predict that Raven Industries, Inc. will post $0.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, October 12th. Raven Industries’s dividend payout ratio (DPR) is currently 200.00%.
Separately, Zacks Investment Research upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, September 16th.
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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