Strs Ohio purchased a new stake in shares of Valspar Corp. (NYSE:VAL) during the second quarter, according to its most recent filing with the SEC. The fund purchased 9,275 shares of the company’s stock, valued at approximately $1,001,000.
Several other large investors have also added to or reduced their stakes in the stock. Magnetar Financial LLC purchased a new stake in Valspar Corp. during the first quarter valued at about $83,668,000. JPMorgan Chase & Co. raised its stake in Valspar Corp. by 191.9% in the first quarter. JPMorgan Chase & Co. now owns 608,624 shares of the company’s stock valued at $65,135,000 after buying an additional 400,130 shares in the last quarter. Renaissance Technologies LLC raised its stake in 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 in the last quarter. Goldman Sachs Group Inc. raised its stake in Valspar Corp. by 14.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,411,666 shares of the company’s stock valued at $151,076,000 after buying an additional 179,178 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Valspar Corp. during the second quarter valued at about $16,622,000. 71.87% of the stock is owned by hedge funds and other institutional investors.
Valspar Corp. (NYSE:VAL) traded down 0.28% on Friday, hitting $105.10. The stock had a trading volume of 260,255 shares. The company has a market cap of $8.34 billion, a PE ratio of 24.15 and a beta of 1.53. Valspar Corp. has a 12 month low of $72.98 and a 12 month high of $108.97. The company has a 50-day moving average of $105.79 and a 200 day moving average of $106.76.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings data on Wednesday, September 7th. The company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.12. The business earned $1.14 billion during 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 business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. On average, analysts predict that Valspar Corp. will post $4.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio (DPR) is presently 30.41%.
Several equities research analysts recently issued reports on VAL shares. Zacks Investment Research raised shares of Valspar Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a report on Thursday, October 6th. Barclays PLC set a $110.00 target price on shares of Valspar Corp. and gave the stock a “hold” rating in a report on Monday, September 12th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus 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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