Raven Industries, Inc. (RAVN) to Issue Quarterly Dividend of $0.13 on July 31st
Raven Industries, Inc. (NASDAQ:RAVN) declared a quarterly dividend on Thursday, May 21st, Zacks reports. Stockholders of record on Friday, July 17th will be paid a dividend of 0.13 per share by the conglomerate on Friday, July 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 16th.
Raven Industries has raised its dividend by an average of 1,790.9% annually over the last three years. Raven Industries has a payout ratio of 53.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raven Industries to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 59.1%.
RAVN stock opened at $20.96 on Tuesday. The business has a fifty day moving average price of $21.28 and a 200 day moving average price of $25.46. Raven Industries has a fifty-two week low of $16.01 and a fifty-two week high of $38.00. The stock has a market capitalization of $747.15 million, a price-to-earnings ratio of 29.11, a P/E/G ratio of 3.16 and a beta of 1.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.19 and a quick ratio of 2.26.
In other Raven Industries news, Director Jason M. Andringa bought 3,000 shares of Raven Industries stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $20.17 per share, for a total transaction of $60,510.00. Following the completion of the acquisition, the director now owns 14,600 shares in the company, valued at approximately $294,482. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.
Several research firms have recently commented on RAVN. BidaskClub cut Raven Industries from a “hold” rating to a “sell” rating in a research note on Friday, June 12th. Oppenheimer assumed coverage on Raven Industries in a research note on Thursday, June 18th. They issued an “outperform” rating and a $27.00 target price for the company. Finally, National Securities restated a “buy” rating and issued a $30.00 price target on shares of Raven Industries in a research report on Thursday, May 21st.
Raven Industries Company 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.
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