Prudential Financial Inc. Has $5,528,000 Stake in Valspar Corp. (VAL)
Prudential Financial Inc. cut its position in Valspar Corp. (NYSE:VAL) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,167 shares of the company’s stock after selling 2,940 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Valspar Corp. worth $5,528,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of VAL. Renaissance Technologies LLC raised its position in shares of Valspar Corp. by 253.6% in the first quarter. Renaissance Technologies LLC now owns 276,400 shares of the company’s stock worth $29,580,000 after buying an additional 198,225 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Valspar Corp. by 5.7% in the first quarter. Geode Capital Management LLC now owns 438,997 shares of the company’s stock worth $46,981,000 after buying an additional 23,496 shares during the last quarter. ING Groep NV bought a new position in shares of Valspar Corp. during the second quarter worth approximately $10,802,000. Magnetar Financial LLC bought a new position in shares of Valspar Corp. during the first quarter worth approximately $83,668,000. Finally, Teachers Advisors Inc. raised its position in shares of Valspar Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 85,458 shares of the company’s stock worth $9,146,000 after buying an additional 3,449 shares during the last quarter. 71.87% of the stock is currently owned by hedge funds and other institutional investors.
Valspar Corp. (NYSE:VAL) traded down 0.22% during midday trading on Thursday, hitting $105.16. 8,612 shares of the stock traded hands. Valspar Corp. has a 52-week low of $72.98 and a 52-week high of $108.97. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 24.16 and a beta of 1.53. The firm’s 50-day moving average is $105.82 and its 200-day moving average is $106.79.
Valspar Corp. (NYSE:VAL) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.12. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $1.33 earnings per share. Valspar Corp.’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Valspar Corp. will post $4.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors 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 of this dividend was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio is presently 30.41%.
VAL has been the topic of a number of research analyst reports. Barclays PLC set a $110.00 price target on shares of Valspar Corp. and gave the stock a “hold” rating in a report on Monday, September 12th. Zacks Investment Research raised shares of Valspar Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Deutsche Bank AG reissued a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Valspar Corp. in a report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Valspar Corp. has a consensus rating of “Hold” and a consensus price target of $100.39.
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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