Harvest Management LLC Has $4.49 Million Position in Valspar Corp (VAL)

Harvest Management LLC Has $4.49 Million Position in Valspar Corp (VAL)

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VAL. State Street Corp boosted its position in The Valspar Corp by 0.8% in the fourth quarter. State Street Corp now owns 3,223,608 shares of the specialty chemicals company’s stock valued at $334,001,000 after buying an additional 26,819 shares in the last quarter. CNH Partners LLC boosted its position in The Valspar Corp by 2.3% in the fourth quarter. CNH Partners LLC now owns 1,631,468 shares of the specialty chemicals company’s stock valued at $169,036,000 after buying an additional 36,305 shares in the last quarter. Credit Suisse AG boosted its position in The Valspar Corp by 7.6% in the third quarter. Credit Suisse AG now owns 1,550,425 shares of the specialty chemicals company’s stock valued at $164,453,000 after buying an additional 109,627 shares in the last quarter. Manikay Partners LLC acquired a new position in The Valspar Corp during the fourth quarter valued at about $149,281,000. Finally, JPMorgan Chase & Co. boosted its position in The Valspar Corp by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 1,236,283 shares of the specialty chemicals company’s stock valued at $137,153,000 after buying an additional 121,884 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Harvest Management LLC raised its stake in The Valspar Corp (NYSE:VAL) by 62.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,500 shares of the specialty chemicals company’s stock after buying an additional 15,500 shares during the period. The Valspar Corp makes up approximately 3.5% of Harvest Management LLC’s portfolio, making the stock its 6th largest position. Harvest Management LLC’s holdings in The Valspar Corp were worth $4,493,000 at the end of the most recent quarter.

Shares of The Valspar Corp (VAL) traded up 0.33% during mid-day trading on Tuesday, hitting $112.99. The company had a trading volume of 1,307,016 shares. The stock’s 50-day moving average is $112.22 and its 200-day moving average is $108.48. The Valspar Corp has a 52-week low of $97.62 and a 52-week high of $113.07. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 26.86 and a beta of 1.63.

The Valspar Corp (NYSE:VAL) last posted its quarterly earnings results on Wednesday, March 8th. The specialty chemicals company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.23. The company had revenue of $907.70 million during the quarter, compared to the consensus estimate of $893.56 million. The Valspar Corp had a net margin of 8.42% and a return on equity of 39.26%. The Valspar Corp’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. Equities analysts forecast that The Valspar Corp will post $4.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, May 30th. The Valspar Corp’s payout ratio is 34.02%.

Several research analysts have recently issued reports on VAL shares. Credit Suisse Group AG reaffirmed a “hold” rating and set a $111.00 price objective on shares of The Valspar Corp in a research report on Tuesday, March 14th. Zacks Investment Research raised The Valspar Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $113.00.

The Valspar Corp Company Profile

The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “VAL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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