The Valspar Co. Announces Quarterly Dividend of $0.26 (VAL)
The Valspar (NYSE:VAL) announced a quarterly dividend on Tuesday, August 19th, AmericanBankingNews.com reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.26 per share on Monday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.29%.
A number of analysts have recently weighed in on VAL shares. Analysts at Barclays reiterated an “equal weight” rating on shares of The Valspar in a research note on Tuesday. They now have a $84.00 price target on the stock, up previously from $80.00. On a related note, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Valspar in a research note on Wednesday, August 13th. They now have a $83.00 price target on the stock, up previously from $76.00. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of The Valspar in a research note on Wednesday, August 13th. They now have a $81.00 price target on the stock, up previously from $77.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $82.00.
Shares of The Valspar (NYSE:VAL) traded up 0.25% during mid-day trading on Tuesday, hitting $80.56. The stock had a trading volume of 265,068 shares. The Valspar has a 52 week low of $61.13 and a 52 week high of $82.00. The stock has a 50-day moving average of $76.9 and a 200-day moving average of $74.41. The company has a market cap of $6.702 billion and a price-to-earnings ratio of 23.27.
The Valspar (NYSE:VAL) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.16 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. On average, analysts predict that The Valspar will post $4.11 earnings per share for the current fiscal year.
In other The Valspar news, CEO Gary E. Hendrickson sold 84,500 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $79.12, for a total value of $6,685,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
The Valspar Corporation is engaged in the paint and coatings business. The Company manufactures and distributes a range of coatings, paints and related products.
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