Trexquant Investment LP bought a new position in shares of Raven Industries, Inc. (NASDAQ:RAVN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,238 shares of the conglomerate’s stock, valued at approximately $267,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RAVN. Russell Investments Group Ltd. acquired a new position in shares of Raven Industries during the third quarter worth $100,000. Ameritas Investment Partners Inc. lifted its position in shares of Raven Industries by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after purchasing an additional 257 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Raven Industries during the second quarter worth $111,000. Quantbot Technologies LP lifted its position in shares of Raven Industries by 115.9% during the second quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 1,806 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Raven Industries during the third quarter worth $120,000. 74.10% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on RAVN. BidaskClub cut shares of Raven Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Dougherty & Co cut shares of Raven Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday. Piper Jaffray Companies reissued a “hold” rating and set a $31.00 target price on shares of Raven Industries in a research report on Sunday, October 1st. Finally, SunTrust Banks began coverage on shares of Raven Industries in a research report on Friday, August 18th. They set a “hold” rating and a $36.00 target price on the stock. Four research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.10. The firm had revenue of $101.35 million for the quarter, compared to analysts’ expectations of $84.54 million. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. research analysts anticipate that Raven Industries, Inc. will post 0.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.52 annualized dividend and a yield of 1.54%. Raven Industries’s dividend payout ratio is presently 50.98%.
Raven Industries announced that its board has initiated a stock repurchase plan on Monday, December 4th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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