BNP Paribas Arbitrage SA Boosts Position in Raven Industries, Inc. (RAVN)
BNP Paribas Arbitrage SA boosted its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 69.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,015 shares of the conglomerate’s stock after buying an additional 5,342 shares during the period. BNP Paribas Arbitrage SA’s holdings in Raven Industries were worth $433,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Legal & General Group Plc raised its holdings in Raven Industries by 13.1% in the second quarter. Legal & General Group Plc now owns 70,690 shares of the conglomerate’s stock valued at $2,355,000 after buying an additional 8,194 shares during the period. Savant Capital LLC purchased a new position in Raven Industries in the second quarter valued at approximately $216,000. First Trust Advisors LP purchased a new position in Raven Industries in the second quarter valued at approximately $369,000. Schwab Charles Investment Management Inc. raised its holdings in Raven Industries by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,754 shares of the conglomerate’s stock valued at $8,084,000 after buying an additional 1,670 shares during the period. Finally, Algert Global LLC raised its holdings in Raven Industries by 150.2% in the second quarter. Algert Global LLC now owns 66,347 shares of the conglomerate’s stock valued at $2,209,000 after buying an additional 39,833 shares during the period. Hedge funds and other institutional investors own 73.06% of the company’s stock.
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Raven Industries, Inc. (NASDAQ RAVN) opened at 31.20 on Friday. Raven Industries, Inc. has a 12-month low of $20.21 and a 12-month high of $37.40. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 37.10 and a beta of 1.42. The company has a 50-day moving average of $31.38 and a 200 day moving average of $31.88.
Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $81.48 million. Raven Industries had a return on equity of 11.67% and a net margin of 9.57%. Equities analysts anticipate that Raven Industries, Inc. will post $0.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. Raven Industries’s payout ratio is 61.18%.
Several research firms recently commented on RAVN. BidaskClub lowered shares of Raven Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Piper Jaffray Companies set a $33.00 price target on shares of Raven Industries and gave the company a “hold” rating in a report on Thursday, July 27th. SunTrust Banks, Inc. began coverage on shares of Raven Industries in a report on Friday, August 18th. They issued a “hold” rating and a $36.00 price target on the stock. Finally, Dougherty & Co restated a “buy” rating on shares of Raven Industries in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.67.
In other news, Director Marc E. Lebaron purchased 1,457 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average price of $27.55 per share, with a total value of $40,140.35. Following the purchase, the director now owns 3,457 shares in the company, valued at approximately $95,240.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.
About Raven Industries
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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