Tygh Capital Management Inc. lessened its position in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 63.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,950 shares of the conglomerate’s stock after selling 63,441 shares during the period. Tygh Capital Management Inc. owned approximately 0.10% of Raven Industries worth $1,269,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of Raven Industries during the fourth quarter worth approximately $1,887,000. Koshinski Asset Management Inc. bought a new stake in shares of Raven Industries during the fourth quarter worth approximately $735,000. Creative Planning raised its position in shares of Raven Industries by 3.3% in the fourth quarter. Creative Planning now owns 156,607 shares of the conglomerate’s stock valued at $5,379,000 after buying an additional 5,000 shares in the last quarter. Profit Investment Management LLC raised its position in shares of Raven Industries by 6.0% in the fourth quarter. Profit Investment Management LLC now owns 58,915 shares of the conglomerate’s stock valued at $2,024,000 after buying an additional 3,351 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Raven Industries by 10.7% in the third quarter. California Public Employees Retirement System now owns 139,872 shares of the conglomerate’s stock valued at $4,532,000 after buying an additional 13,472 shares in the last quarter. Institutional investors own 73.81% of the company’s stock.
A number of equities research analysts have recently weighed in on RAVN shares. BidaskClub downgraded shares of Raven Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. SunTrust Banks upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research 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 price target for the company in a research report on Friday, December 8th. Finally, Dougherty & Co downgraded shares of Raven Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.
Raven Industries, Inc. (RAVN) traded up $0.35 during midday trading on Thursday, hitting $34.95. 92,800 shares of the stock were exchanged, compared to its average volume of 123,591. Raven Industries, Inc. has a 52 week low of $25.58 and a 52 week high of $40.85. The firm has a market capitalization of $1,237.15, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.73 and a beta of 1.57.
Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, beating the 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 business had revenue of $101.35 million during the quarter, compared to the consensus estimate of $84.54 million. research analysts predict that Raven Industries, Inc. will post 1.1 EPS for the current year.
Raven Industries declared that its Board of Directors has approved a stock repurchase plan on Monday, December 4th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were given 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 yield of 1.49%. Raven Industries’s dividend payout ratio is currently 50.98%.
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).
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