Pinnacle Associates Ltd. Sells 285,119 Shares of Valspar Corporation (The) (VAL)

Pinnacle Associates Ltd. lowered its stake in Valspar Corporation (The) (NYSE:VAL) by 55.5% during the fourth quarter, Holdings Channel reports. The fund owned 228,687 shares of the company’s stock after selling 285,119 shares during the period. Pinnacle Associates Ltd.’s holdings in Valspar Corporation (The) were worth $23,694,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VAL. Sei Investments Co. increased its stake in Valspar Corporation (The) by 26.5% in the third quarter. Sei Investments Co. now owns 1,213 shares of the company’s stock valued at $129,000 after buying an additional 254 shares during the last quarter. Global X Management Co. LLC increased its position in Valspar Corporation (The) by 48.0% in the third quarter. Global X Management Co. LLC now owns 1,214 shares of the company’s stock worth $129,000 after buying an additional 394 shares in the last quarter. Shinko Asset Management Co. Ltd. increased its position in Valspar Corporation (The) by 885.4% in the third quarter. Shinko Asset Management Co. Ltd. now owns 1,892 shares of the company’s stock worth $201,000 after buying an additional 1,700 shares in the last quarter. Creative Planning increased its position in Valspar Corporation (The) by 1.5% in the third quarter. Creative Planning now owns 2,013 shares of the company’s stock worth $214,000 after buying an additional 30 shares in the last quarter. Finally, Evercore Wealth Management LLC increased its position in Valspar Corporation (The) by 6.1% in the second quarter. Evercore Wealth Management LLC now owns 2,095 shares of the company’s stock worth $226,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Institutional Ownership by Quarter for Valspar Corporation (The) (NYSE:VAL)

Valspar Corporation (NYSE:VAL) traded down 0.04% during mid-day trading on Tuesday, hitting $110.67. 203,456 shares of the stock were exchanged. The company has a market cap of $8.79 billion, a P/E ratio of 25.38 and a beta of 1.63. The company has a 50-day moving average price of $107.58 and a 200-day moving average price of $105.07. Valspar Corporation has a one year low of $75.19 and a one year high of $111.06.

Valspar Corporation (The) (NYSE:VAL) last announced its quarterly earnings results on Tuesday, December 20th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by $0.13. The business had revenue of $1.11 billion for the quarter. Valspar Corporation (The) had a net margin of 8.42% and a return on equity of 39.26%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 earnings per share. Analysts forecast that Valspar Corporation will post $4.85 earnings per share for the current fiscal year.

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A number of research analysts recently issued reports on VAL shares. Zacks Investment Research downgraded shares of Valspar Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. Credit Suisse Group restated a “hold” rating and set a $102.00 target price on shares of Valspar Corporation (The) in a research report on Thursday, December 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $107.71.

Valspar Corporation (The) 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.

5 Day Chart for NYSE:VAL

Want to see what other hedge funds are holding VAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valspar Corporation (The) (NYSE:VAL).

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