Raven Industries (NASDAQ:RAVN) Hits New 1-Year Low at $32.31

Raven Industries, Inc. (NASDAQ:RAVN) shares hit a new 52-week low during trading on Thursday . The company traded as low as $32.31 and last traded at $32.43, with a volume of 5835 shares traded. The stock had previously closed at $32.69.

A number of brokerages have commented on RAVN. Sidoti started coverage on Raven Industries in a research report on Thursday, May 30th. They issued a “neutral” rating for the company. BidaskClub upgraded Raven Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st.

The stock’s 50-day simple moving average is $35.12. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 21.91 and a beta of 1.34.

Raven Industries (NASDAQ:RAVN) last announced 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 return on equity of 14.46% and a net margin of 10.89%. The business had revenue of $98.18 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Monday, July 15th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. Raven Industries’s payout ratio is 35.14%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Raven Industries by 60.7% in the fourth quarter. Bank of America Corp DE now owns 165,593 shares of the conglomerate’s stock valued at $5,992,000 after purchasing an additional 62,548 shares in the last quarter. Millennium Management LLC purchased a new position in Raven Industries in the fourth quarter worth approximately $2,994,000. Amalgamated Bank purchased a new position in Raven Industries in the fourth quarter worth approximately $204,000. Norges Bank purchased a new position in Raven Industries in the fourth quarter worth approximately $24,842,000. Finally, Geode Capital Management LLC grew its position in Raven Industries by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 412,993 shares of the conglomerate’s stock worth $14,946,000 after acquiring an additional 35,394 shares during the period. 73.86% of the stock is owned by institutional investors.

About Raven Industries (NASDAQ:RAVN)

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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