Emerald Acquisition Ltd. Invests $3,831,000 in Valspar Corp. (VAL)
Emerald Acquisition Ltd. bought a new position in shares of Valspar Corp. (NYSE:VAL) during the second quarter, Holdings Channel reports. The firm bought 35,462 shares of the company’s stock, valued at approximately $3,831,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VAL. Accredited Investors Inc. raised its position in Valspar Corp. by 5.1% in the first quarter. Accredited Investors Inc. now owns 23,554 shares of the company’s stock worth $2,521,000 after buying an additional 1,137 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Valspar Corp. during the first quarter worth about $7,384,000. M&T Bank Corp purchased a new position in Valspar Corp. during the first quarter worth about $280,000. JPMorgan Chase & Co. raised its position in Valspar Corp. by 191.9% in the first quarter. JPMorgan Chase & Co. now owns 608,624 shares of the company’s stock worth $65,135,000 after buying an additional 400,130 shares during the last quarter. Finally, Stearns Financial Services Group purchased a new position in Valspar Corp. during the first quarter worth about $214,000. 71.96% of the stock is owned by hedge funds and other institutional investors.
Valspar Corp. (NYSE:VAL) traded up 0.88% during mid-day trading on Wednesday, reaching $106.53. 632,375 shares of the company traded hands. The firm has a market cap of $8.45 billion, a PE ratio of 24.48 and a beta of 1.44. The stock’s 50-day moving average price is $105.67 and its 200-day moving average price is $104.99. Valspar Corp. has a one year low of $70.58 and a one year high of $108.97.
Valspar Corp. (NYSE:VAL) last announced its earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.12. The business earned $1.14 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. Analysts forecast that Valspar Corp. will post $4.95 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio (DPR) is currently 30.41%.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Valspar Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Morgan Stanley reissued a “sell” rating on shares of Valspar Corp. in a research note on Thursday, June 16th. Credit Suisse Group AG reissued a “hold” rating on shares of Valspar Corp. in a research note on Thursday, May 26th. Deutsche Bank AG reissued a “hold” rating on shares of Valspar Corp. in a research note on Thursday, September 8th. Finally, Barclays PLC set a $110.00 target price on shares of Valspar Corp. and gave the company a “hold” rating in a research note on Monday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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.
Want to see what other hedge funds are holding VAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valspar Corp. (NYSE:VAL).
Receive News & Ratings for Valspar Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valspar Corp. and related companies with MarketBeat.com's FREE daily email newsletter.