Stoneridge Investment Partners LLC held its stake in shares of Valspar Corp. (NYSE:VAL) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,764 shares of the company’s stock at the end of the second quarter. Stoneridge Investment Partners LLC’s holdings in Valspar Corp. were worth $515,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Valspar Corp. during the second quarter valued at $16,622,000. Shell Asset Management Co. acquired a new stake in shares of Valspar Corp. during the second quarter valued at $894,000. Daiwa Securities Group Inc. acquired a new stake in shares of Valspar Corp. during the second quarter valued at $205,000. New York State Teachers Retirement System raised its stake in shares of Valspar Corp. by 9.2% in the second quarter. New York State Teachers Retirement System now owns 134,448 shares of the company’s stock valued at $14,524,000 after buying an additional 11,300 shares during the period. Finally, Oakbrook Investments LLC raised its stake in shares of Valspar Corp. by 12.7% in the second quarter. Oakbrook Investments LLC now owns 3,775 shares of the company’s stock valued at $408,000 after buying an additional 425 shares during the period. 71.96% of the stock is currently owned by institutional investors and hedge funds.
Valspar Corp. (NYSE:VAL) traded down 0.40% during mid-day trading on Friday, hitting $106.59. The company had a trading volume of 188,835 shares. The firm has a market cap of $8.46 billion, a P/E ratio of 24.49 and a beta of 1.44. Valspar Corp. has a 52-week low of $70.58 and a 52-week high of $108.97. The stock’s 50 day moving average price is $105.77 and its 200 day moving average price is $105.21.
Valspar Corp. (NYSE:VAL) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.12. The firm earned $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. Valspar Corp.’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. On average, equities research analysts predict that Valspar Corp. will post $4.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is currently 30.41%.
Several equities research analysts have recently weighed in on the company. Barclays PLC set a $110.00 target price on Valspar Corp. and gave the stock a “hold” rating in a research report on Monday, September 12th. Zacks Investment Research raised Valspar Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Deutsche Bank AG reissued a “hold” rating on shares of Valspar Corp. in a research report on Thursday, September 8th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Valspar Corp. in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $98.14.
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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