Profit Investment Management LLC increased its position in Raven Industries, Inc. (NASDAQ:RAVN) by 64.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,564 shares of the conglomerate’s stock after buying an additional 21,690 shares during the period. Raven Industries comprises 1.6% of Profit Investment Management LLC’s portfolio, making the stock its 24th largest holding. Profit Investment Management LLC owned approximately 0.15% of Raven Industries worth $1,800,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Stifel Financial Corp raised its position in shares of Raven Industries by 0.3% in the second quarter. Stifel Financial Corp now owns 29,837 shares of the conglomerate’s stock valued at $993,000 after buying an additional 103 shares during the last quarter. Arizona State Retirement System raised its position in shares of Raven Industries by 1.1% in the first quarter. Arizona State Retirement System now owns 18,800 shares of the conglomerate’s stock valued at $546,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund raised its position in shares of Raven Industries by 0.9% in the second quarter. Texas Permanent School Fund now owns 26,350 shares of the conglomerate’s stock valued at $877,000 after buying an additional 231 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Raven Industries by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock valued at $106,000 after buying an additional 257 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Raven Industries by 4.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,520 shares of the conglomerate’s stock valued at $284,000 after buying an additional 390 shares during the last quarter. 73.05% of the stock is owned by institutional investors and hedge funds.
Raven Industries, Inc. (NASDAQ RAVN) traded up 1.97% during trading on Friday, hitting $33.60. 125,270 shares of the stock were exchanged. The firm has a market cap of $1.22 billion, a PE ratio of 39.95 and a beta of 1.46. The stock’s 50-day moving average price is $31.35 and its 200-day moving average price is $32.36. Raven Industries, Inc. has a 12-month low of $20.21 and a 12-month high of $37.40.
Raven Industries (NASDAQ:RAVN) last announced its earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Raven Industries had a net margin of 9.57% and a return on equity of 11.67%. The company had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $81.48 million. On average, equities analysts expect that Raven Industries, Inc. will post $0.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, October 12th. Raven Industries’s payout ratio is 61.18%.
In related news, Director Marc E. Lebaron purchased 1,457 shares of Raven Industries stock in a transaction dated Monday, August 28th. The stock was acquired at an average cost of $27.55 per share, with a total value of $40,140.35. Following the completion of the transaction, the director now directly owns 3,457 shares of the company’s stock, valued at $95,240.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Piper Jaffray Companies set a $31.00 price objective on shares of Raven Industries and gave the company a “hold” rating in a research report on Friday, August 25th. Dougherty & Co reissued a “buy” rating on shares of Raven Industries in a research report on Friday, August 18th. BidaskClub lowered shares of Raven Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, SunTrust Banks, Inc. assumed coverage on shares of Raven Industries in a research report on Friday, August 18th. They issued a “hold” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Raven Industries presently has an average rating of “Hold” and a consensus target price of $33.50.
Raven Industries Company 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).
Receive News & Ratings for Raven Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.