Raven Industries, Inc. (NASDAQ:RAVN) announced a quarterly dividend on Tuesday, December 5th, Wall Street Journal reports. Shareholders of record on Friday, January 12th will be paid a dividend of 0.13 per share by the conglomerate on Friday, January 26th. This represents a $0.52 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 11th.

Raven Industries has raised its dividend by an average of 13.0% annually over the last three years. Raven Industries has a dividend payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Raven Industries to earn $1.16 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 44.8%.

Shares of Raven Industries (RAVN) traded down $0.85 during trading on Tuesday, reaching $36.75. 87,200 shares of the company’s stock traded hands, compared to its average volume of 157,601. Raven Industries has a 12-month low of $23.65 and a 12-month high of $38.35. The company has a market capitalization of $1,344.41, a PE ratio of 36.86, a PEG ratio of 3.94 and a beta of 1.48.

Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. The firm had revenue of $101.35 million for the quarter, compared to analysts’ expectations of $84.54 million. equities analysts anticipate that Raven Industries will post 0.95 EPS for the current fiscal year.

Raven Industries announced that its board has initiated a stock buyback program on Monday, December 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several research firms have issued reports on RAVN. Dougherty & Co downgraded Raven Industries from a “buy” rating to a “neutral” rating in a report on Tuesday. Piper Jaffray Companies restated a “hold” rating and set a $31.00 price objective on shares of Raven Industries in a report on Sunday, October 1st. BidaskClub downgraded Raven Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, SunTrust Banks began coverage on Raven Industries in a report on Friday, August 18th. They set a “hold” rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.50.

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Raven Industries Company Profile

Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).

Dividend History for Raven Industries (NASDAQ:RAVN)

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