Tygh Capital Management Inc. reduced its position in Raven Industries, Inc. (NASDAQ:RAVN) by 63.2% in the 4th quarter, HoldingsChannel reports. The fund owned 36,950 shares of the conglomerate’s stock after selling 63,441 shares during the period. Tygh Capital Management Inc.’s holdings in Raven Industries were worth $1,269,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Raven Industries by 3.9% in the second quarter. BlackRock Inc. now owns 4,607,096 shares of the conglomerate’s stock worth $153,418,000 after purchasing an additional 173,123 shares in the last quarter. Vanguard Group Inc. raised its holdings in Raven Industries by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,253,939 shares of the conglomerate’s stock worth $108,356,000 after purchasing an additional 66,558 shares in the last quarter. State Street Corp raised its holdings in Raven Industries by 6.2% in the second quarter. State Street Corp now owns 879,504 shares of the conglomerate’s stock worth $29,288,000 after purchasing an additional 51,451 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in Raven Industries by 97.9% in the third quarter. Vident Investment Advisory LLC now owns 778,211 shares of the conglomerate’s stock worth $25,214,000 after purchasing an additional 385,032 shares in the last quarter. Finally, Capco Asset Management LLC raised its holdings in Raven Industries by 1.0% in the third quarter. Capco Asset Management LLC now owns 462,026 shares of the conglomerate’s stock worth $14,970,000 after purchasing an additional 4,724 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Raven Industries, Inc. (NASDAQ RAVN) opened at $35.20 on Thursday. The company has a market cap of $1,247.87, a PE ratio of 34.22, a price-to-earnings-growth ratio of 2.76 and a beta of 1.57. Raven Industries, Inc. has a fifty-two week low of $23.75 and a fifty-two week high of $40.85.

Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.10. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. The firm had revenue of $101.35 million for the quarter, compared to the consensus estimate of $84.54 million. equities analysts expect that Raven Industries, Inc. will post 1.1 EPS for the current fiscal year.

Raven Industries declared that its board has initiated a stock buyback plan on Monday, December 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 12th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.48%. Raven Industries’s dividend payout ratio (DPR) is currently 50.98%.

A number of equities analysts have commented on the stock. SunTrust Banks upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Friday, December 8th. BidaskClub downgraded shares of Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Dougherty & Co downgraded shares of Raven Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Raven Industries currently has a consensus rating of “Hold” and a consensus price target of $35.00.

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Raven Industries Profile

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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Institutional Ownership by Quarter for Raven Industries (NASDAQ:RAVN)

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