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.
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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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