Valspar Corp. (VAL) Stake Reduced by Capital Fund Management S.A.
Capital Fund Management S.A. reduced its position in shares of Valspar Corp. (NYSE:VAL) by 65.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,966 shares of the company’s stock after selling 13,464 shares during the period. Capital Fund Management S.A.’s holdings in Valspar Corp. were worth $753,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. purchased a new position in Valspar Corp. during the second quarter worth $205,000. Eqis Capital Management Inc. purchased a new position in Valspar Corp. during the second quarter worth $210,000. Creative Planning raised its position in Valspar Corp. by 1.1% in the second quarter. Creative Planning now owns 1,983 shares of the company’s stock worth $214,000 after buying an additional 22 shares during the period. Springbok Capital Management LLC purchased a new position in Valspar Corp. during the first quarter worth $235,000. Finally, BlackRock Japan Co. Ltd raised its position in Valspar Corp. by 21.1% in the first quarter. BlackRock Japan Co. Ltd now owns 2,274 shares of the company’s stock worth $243,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 71.87% of the company’s stock.
Shares of Valspar Corp. (NYSE:VAL) traded up 0.02% on Monday, reaching $105.40. 439,742 shares of the company traded hands. The firm has a 50-day moving average of $105.87 and a 200-day moving average of $106.78. Valspar Corp. has a 52-week low of $72.98 and a 52-week high of $108.97. The company has a market capitalization of $8.36 billion, a PE ratio of 24.22 and a beta of 1.53.
Valspar Corp. (NYSE:VAL) last issued its earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.12. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that Valspar Corp. will post $4.93 earnings per share for the current fiscal year.
The business also recently announced 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 1.25%. The ex-dividend date was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is presently 30.41%.
Several brokerages have commented on VAL. Zacks Investment Research upgraded shares of Valspar Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Thursday. Barclays PLC set a $110.00 target price on shares of Valspar Corp. and gave the stock a “hold” rating in a research report on Monday, September 12th. Deutsche Bank AG restated a “hold” rating on shares of Valspar Corp. in a research report on Thursday, September 8th. Finally, Morgan Stanley restated a “sell” rating on shares of Valspar Corp. in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $100.39.
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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