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%.
ILLEGAL ACTIVITY NOTICE: This report was posted by Stock Observer and is the sole property of of Stock Observer. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.thestockobserver.com/2019/06/14/raven-industries-inc-nasdaqravn-shares-sold-by-xact-kapitalforvaltning-ab.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.
Further Reading: What is Depreciation?
Want to see what other hedge funds are holding RAVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raven Industries, Inc. (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.