Municipal Employees Retirement System of Michigan boosted its holdings in shares of Raven Industries, Inc. (NASDAQ:RAVN) by 58.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,540 shares of the conglomerate’s stock after acquiring an additional 5,020 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Raven Industries were worth $439,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its holdings in Raven Industries by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock valued at $106,000 after purchasing an additional 257 shares during the period. Schroder Investment Management Group purchased a new position in Raven Industries in the second quarter valued at $111,000. Quantbot Technologies LP raised its stake in Raven Industries by 115.9% in the second quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock valued at $112,000 after buying an additional 1,806 shares in the last quarter. Sei Investments Co. acquired a new stake in Raven Industries in the third quarter valued at $120,000. Finally, Victory Capital Management Inc. increased its position in shares of Raven Industries by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,510 shares of the conglomerate’s stock worth $150,000 after purchasing an additional 675 shares in the last quarter. 74.03% of the stock is owned by institutional investors.
Shares of Raven Industries, Inc. (RAVN) traded down $0.25 during trading hours on Friday, hitting $34.35. The stock had a trading volume of 86,623 shares, compared to its average volume of 131,959. The stock has a market cap of $1,237.15, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 3.39 and a beta of 1.48. Raven Industries, Inc. has a fifty-two week low of $23.65 and a fifty-two week high of $38.35.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders 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 1.51%. Raven Industries’s dividend payout ratio (DPR) is presently 50.98%.
Raven Industries declared that its Board of Directors has authorized a stock buyback plan on Monday, December 4th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
RAVN has been the topic of a number of research analyst reports. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 target price on shares of Raven Industries in a research report on Sunday, October 1st. Dougherty & Co cut Raven Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 5th. BidaskClub cut Raven Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Friday, December 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $35.00.
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Raven Industries 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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