The Valspar CEO Unloads $6,685,640 in Stock (VAL)
The Valspar (NYSE:VAL) CEO Gary E. Hendrickson sold 84,500 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $79.12, for a total value of $6,685,640.00. Following the sale, the chief executive officer now directly owns 204,579 shares of the company’s stock, valued at approximately $16,186,290. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
The Valspar (NYSE:VAL) traded down 0.21% during mid-day trading on Wednesday, hitting $80.3901. 30,031 shares of the company’s stock traded hands. The Valspar has a one year low of $61.13 and a one year high of $82.00. The stock has a 50-day moving average of $77.05 and a 200-day moving average of $74.48. The company has a market cap of $6.688 billion and a price-to-earnings ratio of 23.32.
The Valspar (NYSE:VAL) last announced its earnings results 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.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.26 per share. 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. Separately, 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, four have issued a hold rating and six have issued a buy rating to the stock. The Valspar presently has a consensus rating of “Hold” and a consensus target price of $82.91.
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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