Valspar Corp. (VAL) Sees Strong Trading Volume
Valspar Corp. (NYSE:VAL) saw unusually-high trading volume on Monday . Approximately 621,064 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 266,459 shares.The stock last traded at $105.52 and had previously closed at $105.46.
VAL has been the topic of a number of recent research reports. Morgan Stanley reaffirmed a “sell” rating on shares of Valspar Corp. in a research report on Thursday, June 16th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Valspar Corp. in a research report on Thursday, May 26th. Vetr raised shares of Valspar Corp. from a “hold” rating to a “strong-buy” rating and set a $126.66 target price on the stock in a research report on Monday, May 23rd. Finally, Zacks Investment Research raised shares of Valspar Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the stock. Valspar Corp. has an average rating of “Hold” and an average price target of $97.06.
The company has a market cap of $8.38 billion and a price-to-earnings ratio of 25.38. The stock’s 50-day moving average is $106.46 and its 200-day moving average is $102.09.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, August 30th.
A number of hedge funds and institutional investors recently made changes to their positions in VAL. BlackRock Advisors LLC increased its position in shares of Valspar Corp. by 16.4% in the fourth quarter. BlackRock Advisors LLC now owns 176,756 shares of the company’s stock worth $14,662,000 after buying an additional 24,888 shares during the last quarter. US Bancorp DE increased its position in shares of Valspar Corp. by 5.7% in the fourth quarter. US Bancorp DE now owns 223,460 shares of the company’s stock worth $18,535,000 after buying an additional 12,134 shares during the last quarter. KBC Group NV increased its position in shares of Valspar Corp. by 11.6% in the fourth quarter. KBC Group NV now owns 56,918 shares of the company’s stock worth $4,721,000 after buying an additional 5,906 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Valspar Corp. by 11.7% in the fourth quarter. Bank of Montreal Can now owns 15,847 shares of the company’s stock worth $1,315,000 after buying an additional 1,666 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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