State Treasurer State of Michigan Buys 300 Shares of The Valspar Corp (VAL)

State Treasurer State of Michigan boosted its stake in The Valspar Corp (NYSE:VAL) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,700 shares of the specialty chemicals company’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in The Valspar Corp were worth $3,295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of VAL. Henderson Group PLC boosted its position in shares of The Valspar Corp by 78.0% in the third quarter. Henderson Group PLC now owns 7,985 shares of the specialty chemicals company’s stock worth $847,000 after buying an additional 3,499 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of The Valspar Corp by 37.9% in the third quarter. Great West Life Assurance Co. Can now owns 74,409 shares of the specialty chemicals company’s stock worth $7,886,000 after buying an additional 20,460 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of The Valspar Corp by 1.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,800 shares of the specialty chemicals company’s stock worth $1,146,000 after buying an additional 200 shares during the last quarter. Rothschild Asset Management Inc. boosted its position in The Valspar Corp by 92.1% in the third quarter. Rothschild Asset Management Inc. now owns 7,951 shares of the specialty chemicals company’s stock valued at $843,000 after buying an additional 3,811 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in The Valspar Corp by 170.1% in the third quarter. Wells Fargo & Company MN now owns 424,077 shares of the specialty chemicals company’s stock valued at $44,981,000 after buying an additional 267,048 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for The Valspar Corp (NYSE:VAL)

The Valspar Corp (NYSE:VAL) traded up 0.26% during midday trading on Friday, reaching $112.04. 200,555 shares of the company traded hands. The firm has a 50-day moving average of $112.03 and a 200-day moving average of $107.98. The Valspar Corp has a 1-year low of $97.62 and a 1-year high of $112.69. The stock has a market capitalization of $8.90 billion, a P/E ratio of 26.64 and a beta of 1.63.

The Valspar Corp (NYSE:VAL) last released its quarterly earnings results on Wednesday, March 8th. The specialty chemicals company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.73 by $0.23. The company had revenue of $907.70 million for the quarter, compared to analysts’ expectations of $893.56 million. The Valspar Corp had a return on equity of 39.26% and a net margin of 8.42%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. On average, analysts predict that The Valspar Corp will post $4.57 earnings per share for the current year.

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VAL has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of The Valspar Corp from a “sell” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group AG reiterated a “hold” rating and issued a $111.00 price objective on shares of The Valspar Corp in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $116.42.

About The 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.

5 Day Chart for NYSE:VAL

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