Valspar Corp. (VAL) Hits New 52-Week High at $108.97
Shares of Valspar Corp. (NYSE:VAL) reached a new 52-week high on Friday . The company traded as high as $108.97 and last traded at $108.42, with a volume of 197,599 shares trading hands. The stock had previously closed at $108.32.
Several analysts have weighed in on VAL shares. Deutsche Bank AG cut shares of Valspar Corp. from a “buy” rating to a “hold” rating and upped their price objective for the stock from $92.00 to $113.00 in a research note on Monday, March 21st. Royal Bank Of Canada raised shares of Valspar Corp. from an “underperform” rating to a “sector perform” rating in a research note on Monday, March 21st. Vetr cut shares of Valspar Corp. from a “strong-buy” rating to a “sell” rating and set a $98.87 price objective on the stock. in a research note on Monday, March 21st. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $102.00 price objective (up from $73.00) on shares of Valspar Corp. in a research note on Tuesday, March 22nd. Finally, Longbow Research cut shares of Valspar Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $96.06.
The firm has a 50 day moving average of $107.87 and a 200-day moving average of $94.90. The stock has a market cap of $8.59 billion and a P/E ratio of 26.02.
Valspar Corp. (NYSE:VAL) last issued its earnings results on Tuesday, May 24th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.26 by $0.04. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned $1.11 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Equities research analysts anticipate that Valspar Corp. will post $4.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, May 27th.
Other large investors recently made changes to their positions in the company. California State Teachers Retirement System raised its stake in shares of Valspar Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 150,522 shares of the company’s stock valued at $12,486,000 after buying an additional 2,333 shares during the period. Sei Investments Co. raised its stake in Valspar Corp. by 4.3% in the fourth quarter. Sei Investments Co. now owns 133,478 shares of the company’s stock worth $11,072,000 after buying an additional 5,448 shares during the last quarter. New York State Common Retirement Fund raised its stake in Valspar Corp. by 1.8% in the fourth quarter. New York State Common Retirement Fund now owns 608,385 shares of the company’s stock worth $50,466,000 after buying an additional 10,480 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in Valspar Corp. by 4.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 4,800,779 shares of the company’s stock worth $398,225,000 after buying an additional 208,942 shares during the last quarter. Finally, Mastrapasqua Asset Management Inc. raised its stake in Valspar Corp. by 11.2% in the fourth quarter. Mastrapasqua Asset Management Inc. now owns 13,380 shares of the company’s stock worth $1,110,000 after buying an additional 1,345 shares during the last quarter.
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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