Raven Industries, Inc. (NASDAQ:RAVN) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 288,700 shares, a drop of 12.7% from the January 15th total of 330,600 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 135,900 shares, the days-to-cover ratio is presently 2.1 days.
RAVN stock traded down $0.22 during midday trading on Friday, hitting $30.65. The company had a trading volume of 126,925 shares, compared to its average volume of 148,230. Raven Industries has a 52 week low of $27.32 and a 52 week high of $41.39. The stock’s 50 day moving average price is $33.54 and its 200 day moving average price is $33.53. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 32.02 and a beta of 1.42.
Raven Industries (NASDAQ:RAVN) last released its quarterly earnings results on Tuesday, November 26th. The conglomerate reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Raven Industries had a return on equity of 11.45% and a net margin of 9.06%. The firm had revenue of $100.53 million during the quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, January 9th. This represents a $0.52 annualized dividend and a dividend yield of 1.70%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY boosted its stake in shares of Raven Industries by 3.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,783 shares of the conglomerate’s stock worth $394,000 after acquiring an additional 432 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Raven Industries by 56.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,327 shares of the conglomerate’s stock valued at $46,000 after acquiring an additional 477 shares during the last quarter. Garrison Asset Management LLC raised its holdings in Raven Industries by 0.8% in the 4th quarter. Garrison Asset Management LLC now owns 74,751 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 623 shares during the last quarter. California State Teachers Retirement System raised its holdings in Raven Industries by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 55,902 shares of the conglomerate’s stock valued at $1,870,000 after acquiring an additional 668 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Raven Industries by 607.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 807 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 693 shares during the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
RAVN has been the subject of several recent research reports. ValuEngine downgraded Raven Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. National Securities reiterated a “hold” rating and issued a $36.00 price objective on shares of Raven Industries in a research report on Wednesday, November 27th. Finally, BidaskClub downgraded Raven Industries from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 1st.
About Raven Industries
Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, commercial lighter-than-air, and aerospace and defense markets worldwide. It operates through three segments: Applied Technology, Engineered Films, and Aerostar.
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