Vident Investment Advisory LLC raised its stake in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 778,211 shares of the conglomerate’s stock after acquiring an additional 385,032 shares during the period. Raven Industries makes up 1.4% of Vident Investment Advisory LLC’s investment portfolio, making the stock its 4th biggest holding. Vident Investment Advisory LLC owned 2.16% of Raven Industries worth $25,214,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of RAVN. Russell Investments Group Ltd. purchased a new position in shares of Raven Industries during the 3rd quarter worth approximately $100,000. Ameritas Investment Partners Inc. raised its stake in shares of Raven Industries by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after buying an additional 257 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Raven Industries during the 2nd quarter worth approximately $111,000. Quantbot Technologies LP raised its stake in shares of Raven Industries by 115.9% during the 2nd quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock worth $112,000 after buying an additional 1,806 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Raven Industries by 1,450.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,690 shares of the conglomerate’s stock worth $120,000 after buying an additional 3,452 shares in the last quarter. 74.10% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on RAVN shares. BidaskClub downgraded Raven Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. SunTrust Banks started coverage on Raven Industries in a research note on Friday, August 18th. They set a “hold” rating and a $36.00 target price for the company. Piper Jaffray Companies set a $31.00 target price on Raven Industries and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Dougherty & Co reissued a “buy” rating on shares of Raven Industries in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.
Raven Industries (NASDAQ:RAVN) last issued its earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The business had revenue of $101.35 million during the quarter, compared to the consensus estimate of $84.54 million. Raven Industries had a return on equity of 13.88% and a net margin of 10.56%. analysts anticipate that Raven Industries, Inc. will post 0.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, January 11th. Raven Industries’s dividend payout ratio is currently 50.98%.
Raven Industries announced that its board has authorized a share repurchase program on Monday, December 4th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the conglomerate to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Raven Industries Profile
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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