First Manhattan Co. continued to hold its stake in The Valspar Corp (NYSE:VAL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,707 shares of the specialty chemicals company’s stock at the end of the first quarter. First Manhattan Co.’s holdings in The Valspar Corp were worth $181,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the company. Manikay Partners LLC bought a new stake in The Valspar Corp during the fourth quarter worth about $149,281,000. Norges Bank acquired a new position in The Valspar Corp during the fourth quarter worth $85,252,000. Renaissance Technologies LLC increased its position in The Valspar Corp by 97.6% in the fourth quarter. Renaissance Technologies LLC now owns 900,000 shares of the specialty chemicals company’s stock worth $93,249,000 after buying an additional 444,500 shares in the last quarter. Alpine Associates Management Inc. increased its position in The Valspar Corp by 41.0% in the fourth quarter. Alpine Associates Management Inc. now owns 1,148,933 shares of the specialty chemicals company’s stock worth $119,041,000 after buying an additional 333,911 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in The Valspar Corp by 199.6% in the third quarter. Toronto Dominion Bank now owns 450,650 shares of the specialty chemicals company’s stock worth $47,801,000 after buying an additional 300,237 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.
The Valspar Corp (NYSE:VAL) traded down 0.05% on Friday, reaching $111.69. 786,540 shares of the company were exchanged. The stock has a 50 day moving average of $112.05 and a 200 day moving average of $108.07. The firm has a market capitalization of $8.87 billion, a PE ratio of 26.55 and a beta of 1.63. The Valspar Corp has a 12-month low of $97.62 and a 12-month high of $112.69.
The Valspar Corp (NYSE:VAL) last issued its quarterly earnings data on Wednesday, March 8th. The specialty chemicals company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.23. The Valspar Corp had a return on equity of 39.26% and a net margin of 8.42%. The business had revenue of $907.70 million for the quarter, compared to analysts’ expectations of $893.56 million. During the same period in the previous year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that The Valspar Corp will post $4.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.33%. The Valspar Corp’s payout ratio is 34.02%.
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A number of research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of The Valspar Corp from a “sell” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group AG set a $111.00 price target on shares of The Valspar Corp and gave the company a “hold” rating in a report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $116.42.
The 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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