Teacher Retirement System of Texas lowered its position in Valspar Corp. (NYSE:VAL) by 41.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,390 shares of the company’s stock after selling 3,889 shares during the period. Teacher Retirement System of Texas’ holdings in Valspar Corp. were worth $582,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of VAL. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Valspar Corp. during the second quarter valued at about $185,000. Daiwa Securities Group Inc. acquired a new position in Valspar Corp. during the second quarter valued at approximately $205,000. Eqis Capital Management Inc. acquired a new position in Valspar Corp. during the second quarter valued at approximately $210,000. Stearns Financial Services Group acquired a new position in Valspar Corp. during the first quarter valued at approximately $214,000. Finally, Creative Planning boosted its position in 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. 71.89% of the stock is owned by hedge funds and other institutional investors.
Valspar Corp. (NYSE:VAL) traded up 0.36% during midday trading on Monday, reaching $106.45. The company’s stock had a trading volume of 151,063 shares. Valspar Corp. has a 1-year low of $72.98 and a 1-year high of $108.97. The firm has a 50 day moving average price of $105.84 and a 200 day moving average price of $106.14. The firm has a market capitalization of $8.45 billion, a PE ratio of 24.46 and a beta of 1.53.
Valspar Corp. (NYSE:VAL) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.12. The company 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 company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. On average, analysts predict that Valspar Corp. will post $4.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.24%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is currently 30.41%.
VAL has been the subject of several research analyst reports. Morgan Stanley reiterated a “sell” rating on shares of Valspar Corp. in a research note on Thursday, June 16th. Barclays PLC set a $110.00 target price on Valspar Corp. and gave the company a “hold” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded Valspar Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Valspar Corp. in a research note on Thursday, September 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus 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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