Raven Industries, Inc. (NASDAQ:RAVN) Shares Sold by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB lessened its stake in Raven Industries, Inc. (NASDAQ:RAVN) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,823 shares of the conglomerate’s stock after selling 2,400 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Raven Industries were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RAVN. Norges Bank purchased a new position in Raven Industries during the 4th quarter valued at about $24,842,000. Royce & Associates LP increased its holdings in Raven Industries by 10.1% during the 1st quarter. Royce & Associates LP now owns 1,598,035 shares of the conglomerate’s stock valued at $61,317,000 after acquiring an additional 146,084 shares in the last quarter. Millennium Management LLC purchased a new position in Raven Industries during the 4th quarter valued at about $2,994,000. Bank of America Corp DE increased its holdings in Raven Industries by 60.7% during the 4th quarter. Bank of America Corp DE now owns 165,593 shares of the conglomerate’s stock valued at $5,992,000 after acquiring an additional 62,548 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Raven Industries by 0.9% during the 1st quarter. BlackRock Inc. now owns 5,189,597 shares of the conglomerate’s stock valued at $199,126,000 after acquiring an additional 48,436 shares in the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.

In other Raven Industries news, VP Schmidt Anthony D. Johnson sold 2,365 shares of the firm’s 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel A. Rykhus sold 9,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 205,923 shares in the company, valued at $8,096,892.36. The disclosure for this sale can be found here. Insiders have acquired a total of 3,562 shares of company stock worth $136,410 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Several research firms have weighed in on RAVN. BidaskClub downgraded shares of Raven Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday. Sidoti began coverage on shares of Raven Industries in a report on Thursday, May 30th. They set a “neutral” rating for the company.

NASDAQ:RAVN traded down $0.19 during mid-day trading on Friday, hitting $34.86. 511 shares of the company’s stock traded hands, compared to its average volume of 113,148. Raven Industries, Inc. has a 1 year low of $32.40 and a 1 year high of $49.80. The company has a market capitalization of $1.24 billion, a P/E ratio of 23.55 and a beta of 1.39.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Monday, May 20th. The conglomerate reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.08). Raven Industries had a net margin of 10.89% and a return on equity of 14.46%. The business had revenue of $98.18 million for the quarter.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, July 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. Raven Industries’s dividend payout ratio is currently 35.14%.

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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.

Further Reading: What is Depreciation?

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

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