Millennium Management LLC Buys New Position in Raven Industries, Inc. (RAVN)

Share on StockTwits

Millennium Management LLC bought a new stake in Raven Industries, Inc. (NASDAQ:RAVN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 82,731 shares of the conglomerate’s stock, valued at approximately $2,994,000. Millennium Management LLC owned 0.23% of Raven Industries as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pioneer Trust Bank N A OR acquired a new position in Raven Industries in the fourth quarter valued at approximately $293,000. Raymond James & Associates boosted its stake in Raven Industries by 8.4% in the fourth quarter. Raymond James & Associates now owns 7,412 shares of the conglomerate’s stock valued at $268,000 after acquiring an additional 575 shares during the period. Cardinal Capital Management boosted its stake in Raven Industries by 1.5% in the fourth quarter. Cardinal Capital Management now owns 50,591 shares of the conglomerate’s stock valued at $1,830,000 after acquiring an additional 755 shares during the period. RMB Capital Management LLC acquired a new position in Raven Industries in the fourth quarter valued at approximately $574,000. Finally, Texas Permanent School Fund boosted its stake in Raven Industries by 4.2% in the fourth quarter. Texas Permanent School Fund now owns 23,529 shares of the conglomerate’s stock valued at $852,000 after acquiring an additional 939 shares during the period. Institutional investors own 74.39% of the company’s stock.

Separately, BidaskClub downgraded Raven Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 31st.

Shares of RAVN stock opened at $39.00 on Friday. Raven Industries, Inc. has a 52 week low of $33.00 and a 52 week high of $49.80. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 26.35 and a beta of 1.33.

Raven Industries (NASDAQ:RAVN) last released its quarterly earnings results on Wednesday, March 20th. The conglomerate reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.23). The business had revenue of $88.02 million for the quarter. Raven Industries had a net margin of 12.74% and a return on equity of 16.38%.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend 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 (DPR) is presently 35.14%.

In other news, CEO Daniel A. Rykhus sold 9,000 shares of Raven Industries stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $39.32, for a total transaction of $353,880.00. Following the sale, the chief executive officer now owns 205,923 shares of the company’s stock, valued at $8,096,892.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Schmidt Anthony D. Johnson sold 2,365 shares of Raven Industries stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $38.51, for a total value of $91,076.15. Following the sale, the vice president now directly owns 47,779 shares in the company, valued at approximately $1,839,969.29. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

WARNING: This piece of content was originally reported by Zolmax and is the sole property of of Zolmax. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://zolmax.com/investing/millennium-management-llc-buys-new-position-in-raven-industries-inc-ravn/3052047.html.

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.

Featured Story: Key terms to understand channel trading

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.



Latest News

Plexus Corp.  Shares Sold by New York State Teachers Retirement System
Plexus Corp. Shares Sold by New York State Teachers Retirement System
Brookfield Property Reit Inc  Holdings Boosted by Sumitomo Mitsui Asset Management Company LTD
Brookfield Property Reit Inc Holdings Boosted by Sumitomo Mitsui Asset Management Company LTD
Zacks: Chaparral Energy Inc  Receives Consensus Recommendation of “Strong Buy” from Brokerages
Zacks: Chaparral Energy Inc Receives Consensus Recommendation of “Strong Buy” from Brokerages
Kora Network Token  Achieves Market Cap of $114,120.00
Kora Network Token Achieves Market Cap of $114,120.00
EagleX  Hits One Day Volume of $14.00
EagleX Hits One Day Volume of $14.00
Raymond James & Associates Buys 17,577 Shares of Invesco S&P International Developed Low Volatility ETF
Raymond James & Associates Buys 17,577 Shares of Invesco S&P International Developed Low Volatility ETF


 
© 2006-2019 Zolmax.