BlackRock Advisors LLC increased its position in Valspar Corp. (NYSE:VAL) by 25.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,009 shares of the company’s stock after buying an additional 18,998 shares during the period. BlackRock Advisors LLC owned about 0.12% of Valspar Corp. worth $10,156,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of VAL. Renaissance Technologies LLC increased its stake in Valspar Corp. by 253.6% in the first quarter. Renaissance Technologies LLC now owns 276,400 shares of the company’s stock worth $29,580,000 after buying an additional 198,225 shares in the last quarter. Geode Capital Management LLC increased its stake in Valspar Corp. by 5.7% in the first quarter. Geode Capital Management LLC now owns 438,997 shares of the company’s stock worth $46,981,000 after buying an additional 23,496 shares in the last quarter. ING Groep NV bought a new stake in Valspar Corp. during the second quarter worth about $10,802,000. Magnetar Financial LLC bought a new stake in Valspar Corp. during the first quarter worth about $83,668,000. Finally, Teachers Advisors Inc. increased its stake in Valspar Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 85,458 shares of the company’s stock worth $9,146,000 after buying an additional 3,449 shares in the last quarter. 71.89% of the stock is owned by institutional investors.
Valspar Corp. (NYSE:VAL) opened at 105.38 on Friday. The firm has a 50 day moving average of $105.87 and a 200-day moving average of $106.78. Valspar Corp. has a 52-week low of $72.98 and a 52-week high of $108.97. The stock has a market cap of $8.36 billion, a PE ratio of 24.21 and a beta of 1.53.
Valspar Corp. (NYSE:VAL) last announced its quarterly earnings data on Wednesday, September 7th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.12. The firm earned $1.14 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 earnings per share. Equities analysts anticipate that Valspar Corp. will post $4.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.33 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.25%. Valspar Corp.’s dividend payout ratio (DPR) is presently 30.41%.
VAL has been the subject of a number of research analyst reports. Barclays PLC set a $110.00 price objective on shares of Valspar Corp. and gave the stock a “hold” rating in a report on Monday, September 12th. Zacks Investment Research raised shares of Valspar Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Valspar Corp. in a report on Thursday, September 8th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Valspar Corp. in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $100.39.
About Valspar Corp.