Dividend Assets Capital LLC cut its position in Valspar Corp. (NYSE:VAL) by 35.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 744,085 shares of the company’s stock after selling 406,011 shares during the period. Valspar Corp. comprises approximately 2.4% of Dividend Assets Capital LLC’s portfolio, making the stock its 20th largest position. Dividend Assets Capital LLC’s holdings in Valspar Corp. were worth $80,383,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of VAL. Daiwa Securities Group Inc. purchased a new stake in shares of Valspar Corp. during the second quarter valued at about $205,000. Eqis Capital Management Inc. purchased a new stake in shares of Valspar Corp. during the second quarter valued at about $210,000. Stearns Financial Services Group purchased a new stake in shares of Valspar Corp. during the first quarter valued at about $214,000. Creative Planning boosted its stake in shares of Valspar Corp. by 1.1% in the second quarter. Creative Planning now owns 1,983 shares of the company’s stock valued at $214,000 after buying an additional 22 shares during the period. Finally, Springbok Capital Management LLC purchased a new stake in shares of Valspar Corp. during the first quarter valued at about $235,000. 71.89% of the stock is currently owned by institutional investors.
Shares of Valspar Corp. (NYSE:VAL) traded up 0.07% during trading on Wednesday, reaching $106.37. The company’s stock had a trading volume of 263,674 shares. Valspar Corp. has a 1-year low of $71.40 and a 1-year high of $108.97. The company has a market capitalization of $8.44 billion, a PE ratio of 24.44 and a beta of 1.44. The stock has a 50 day moving average of $105.79 and a 200-day moving average of $105.96.
Valspar Corp. (NYSE:VAL) last released its earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.12. The business had revenue of $1.14 billion for 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%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. On average, analysts expect that Valspar Corp. will post $4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.32 dividend on an annualized basis and a yield of 1.24%. Valspar Corp.’s payout ratio is 30.41%.
Several analysts have recently issued reports on the company. Zacks Investment Research raised Valspar Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Morgan Stanley reaffirmed a “sell” rating on shares of Valspar Corp. in a report on Thursday, June 16th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. Finally, Barclays PLC set a $110.00 price objective on Valspar Corp. and gave the stock a “hold” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a strong buy rating to the company’s stock. Valspar Corp. currently has a consensus rating of “Hold” and an average target price of $98.14.
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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