Raven Industries, Inc. (RAVN) Shares Bought by State Street Corp

State Street Corp increased its position in Raven Industries, Inc. (NASDAQ:RAVN) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 828,053 shares of the conglomerate’s stock after buying an additional 43,990 shares during the period. State Street Corp owned approximately 2.29% of Raven Industries worth $24,054,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in Raven Industries by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 3,980 shares of the conglomerate’s stock valued at $115,000 after buying an additional 70 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Raven Industries by 1.4% in the first quarter. Suntrust Banks Inc. now owns 11,044 shares of the conglomerate’s stock valued at $320,000 after buying an additional 152 shares during the period. Louisiana State Employees Retirement System boosted its position in Raven Industries by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the conglomerate’s stock worth $427,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System boosted its position in Raven Industries by 1.1% in the first quarter. Arizona State Retirement System now owns 18,800 shares of the conglomerate’s stock worth $546,000 after buying an additional 200 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Raven Industries by 0.7% in the first quarter. Legal & General Group Plc now owns 62,496 shares of the conglomerate’s stock worth $1,815,000 after buying an additional 459 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Raven Industries, Inc. (NASDAQ:RAVN) opened at 31.70 on Friday. The stock has a 50 day moving average price of $34.29 and a 200 day moving average price of $31.51. The stock has a market capitalization of $1.15 billion, a P/E ratio of 42.44 and a beta of 1.36. Raven Industries, Inc. has a 12 month low of $20.21 and a 12 month high of $37.40.

Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.10. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. The company had revenue of $93.54 million for the quarter. Equities analysts predict that Raven Industries, Inc. will post $0.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. Raven Industries’s payout ratio is currently 70.27%.

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A number of research firms have recently commented on RAVN. Dougherty & Co restated a “buy” rating on shares of Raven Industries in a research note on Friday. SunTrust Banks, Inc. assumed coverage on Raven Industries in a research report on Friday. They set a “hold” rating and a $36.00 price objective for the company. BidaskClub lowered Raven Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies set a $33.00 price objective on Raven Industries and gave the company a “hold” rating in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.33.

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).

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

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