Norges Bank acquired a new position in Raven Industries, Inc. (NASDAQ:RAVN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 686,422 shares of the conglomerate’s stock, valued at approximately $24,842,000. Norges Bank owned approximately 1.91% of Raven Industries as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Nikko Asset Management Americas Inc. grew its stake in shares of Raven Industries by 207.3% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 719 shares of the conglomerate’s stock worth $26,000 after buying an additional 485 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Raven Industries by 34.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,200 shares of the conglomerate’s stock worth $43,000 after buying an additional 308 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Raven Industries in the 4th quarter worth $53,000. LS Investment Advisors LLC grew its stake in shares of Raven Industries by 19.2% in the 4th quarter. LS Investment Advisors LLC now owns 2,285 shares of the conglomerate’s stock worth $83,000 after buying an additional 368 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Raven Industries in the 4th quarter worth $204,000. 74.39% of the stock is owned by institutional investors and hedge funds.
In related news, VP Schmidt Anthony D. Johnson sold 2,365 shares of Raven Industries stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $38.51, for a total transaction of $91,076.15. Following the completion of the transaction, the vice president now directly owns 47,779 shares of the company’s stock, valued at approximately $1,839,969.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel A. Rykhus sold 9,000 shares of Raven Industries stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $39.32, for a total transaction of $353,880.00. Following the transaction, the chief executive officer now directly owns 205,923 shares of the company’s stock, valued at $8,096,892.36. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Raven Industries (NASDAQ:RAVN) last released its quarterly earnings results on Wednesday, March 20th. The conglomerate reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.23). Raven Industries had a return on equity of 16.38% and a net margin of 12.74%. The firm had revenue of $88.02 million for the quarter.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 15th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, April 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.33%. Raven Industries’s dividend payout ratio is presently 35.14%.
Separately, BidaskClub cut shares of Raven Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 31st.
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Raven Industries Profile
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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