Zacks Investment Management Invests $1.28 Million in Raven Industries, Inc. (NASDAQ:RAVN)

Zacks Investment Management purchased a new position in shares of Raven Industries, Inc. (NASDAQ:RAVN) in the second quarter, according to its most recent filing with the SEC. The firm purchased 33,284 shares of the conglomerate’s stock, valued at approximately $1,280,000. Zacks Investment Management owned 0.09% of Raven Industries at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RAVN. Rhumbline Advisers grew its stake in shares of Raven Industries by 1.8% in the 1st quarter. Rhumbline Advisers now owns 85,181 shares of the conglomerate’s stock valued at $2,986,000 after buying an additional 1,483 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Raven Industries by 82.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,649 shares of the conglomerate’s stock valued at $128,000 after buying an additional 1,650 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Raven Industries by 61.4% in the 1st quarter. Russell Investments Group Ltd. now owns 4,357 shares of the conglomerate’s stock valued at $153,000 after buying an additional 1,657 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Raven Industries by 27.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,746 shares of the conglomerate’s stock valued at $271,000 after buying an additional 1,670 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Raven Industries by 0.4% in the 1st quarter. Thrivent Financial for Lutherans now owns 469,460 shares of the conglomerate’s stock valued at $16,455,000 after buying an additional 1,745 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

RAVN stock opened at $46.00 on Tuesday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 2.88 and a beta of 1.61. Raven Industries, Inc. has a 52-week low of $31.45 and a 52-week high of $49.80.

Raven Industries (NASDAQ:RAVN) last released its quarterly earnings results on Wednesday, August 22nd. The conglomerate reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Raven Industries had a return on equity of 18.75% and a net margin of 13.69%. The business had revenue of $102.68 million during the quarter. Equities research analysts expect that Raven Industries, Inc. will post 1.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 12th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. Raven Industries’s dividend payout ratio is currently 45.61%.

RAVN has been the subject of several research reports. BidaskClub downgraded Raven Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research downgraded Raven Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, ValuEngine upgraded Raven Industries from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $39.67.

About Raven Industries

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, and aerospace/defense markets worldwide. The company operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable growers to enhance farm yields.

Featured Article: What kind of dividend yield to CEF’s pay?

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

Receive News & Ratings for Raven Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply