BNP Paribas Arbitrage SA boosted its position in shares of Raven Industries Inc. (NASDAQ:RAVN) by 277.7% during the third quarter, Holdings Channel reports. The institutional investor owned 5,598 shares of the company’s stock after buying an additional 4,116 shares during the period. BNP Paribas Arbitrage SA’s holdings in Raven Industries were worth $129,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in shares of Raven Industries during the first quarter worth about $170,000. BlackRock Institutional Trust Company N.A. increased its position in Raven Industries by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 983,737 shares of the company’s stock worth $15,759,000 after buying an additional 10,426 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Raven Industries during the second quarter worth $813,000. Virginia Retirement System bought a new position in Raven Industries during the first quarter worth $687,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Raven Industries during the second quarter worth $1,076,000. 74.33% of the stock is currently owned by institutional investors and hedge funds.
Raven Industries Inc. (NASDAQ:RAVN) opened at 22.04 on Thursday. The company has a market capitalization of $798.00 million, a P/E ratio of 87.11 and a beta of 1.10. Raven Industries Inc. has a 52 week low of $12.88 and a 52 week high of $25.47. The stock’s 50 day moving average price is $23.11 and its 200 day moving average price is $19.58.
Raven Industries (NASDAQ:RAVN) last announced its earnings results on Tuesday, August 23rd. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Raven Industries had a return on equity of 5.81% and a net margin of 3.60%. The company had revenue of $68 million for the quarter. Analysts anticipate that Raven Industries Inc. will post $0.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.52 annualized dividend and a dividend yield of 2.36%. Raven Industries’s payout ratio is 200.00%.
Separately, Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, September 16th.
Raven Industries Company Profile
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).