Raven Industries, Inc. (NASDAQ:RAVN) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in Raven Industries, Inc. (NASDAQ:RAVN) by 9.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,029 shares of the conglomerate’s stock after selling 6,808 shares during the period. Wells Fargo & Company MN owned 0.19% of Raven Industries worth $2,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RAVN. Bessemer Group Inc. acquired a new stake in shares of Raven Industries in the second quarter valued at about $74,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Raven Industries during the first quarter worth about $115,000. GSA Capital Partners LLP purchased a new position in Raven Industries during the second quarter worth about $245,000. WINTON GROUP Ltd purchased a new position in Raven Industries during the second quarter worth about $290,000. Finally, Piedmont Investment Advisors Inc. boosted its stake in Raven Industries by 6.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 9,066 shares of the conglomerate’s stock worth $348,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

RAVN stock traded up $0.48 during mid-day trading on Wednesday, hitting $34.67. 1,277 shares of the company were exchanged, compared to its average volume of 118,222. The firm has a market capitalization of $1.24 billion, a P/E ratio of 23.48 and a beta of 1.45. The business has a fifty day simple moving average of $32.16 and a 200-day simple moving average of $35.45. Raven Industries, Inc. has a 12-month low of $27.32 and a 12-month high of $48.70.

Raven Industries (NASDAQ:RAVN) last announced its earnings results on Thursday, August 22nd. The conglomerate reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.10). Raven Industries had a return on equity of 12.51% and a net margin of 9.76%. The company had revenue of $98.06 million for the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, October 10th. Raven Industries’s payout ratio is 35.14%.

Several research analysts have weighed in on RAVN shares. Sidoti started coverage on shares of Raven Industries in a research note on Thursday, May 30th. They set a “neutral” rating for the company. BidaskClub raised shares of Raven Industries from a “sell” rating to a “hold” rating in a research note on Monday, September 16th.

About Raven Industries

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

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