State Street Corp raised its position in shares of The Valspar Corp (NYSE:VAL) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,423,460 shares of the specialty chemicals company’s stock after buying an additional 199,852 shares during the period. State Street Corp’s holdings in The Valspar Corp were worth $379,795,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its position in shares of The Valspar Corp by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the specialty chemicals company’s stock worth $2,052,000 after buying an additional 400 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of The Valspar Corp during the fourth quarter worth about $2,033,000. Teachers Advisors LLC raised its position in shares of The Valspar Corp by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 73,444 shares of the specialty chemicals company’s stock worth $7,610,000 after buying an additional 4,235 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of The Valspar Corp by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 902,214 shares of the specialty chemicals company’s stock worth $100,092,000 after buying an additional 40,312 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of The Valspar Corp by 2.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 160,764 shares of the specialty chemicals company’s stock worth $16,658,000 after buying an additional 4,131 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.
The Valspar Corp (VAL) remained flat at $112.99 during midday trading on Friday. The firm has a market cap of $8.98 billion, a P/E ratio of 26.86 and a beta of 1.63. The Valspar Corp has a 12 month low of $97.62 and a 12 month high of $113.07. The stock’s 50 day moving average is $112.57 and its 200 day moving average is $109.56.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Thursday, June 1st were given a $0.37 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $1.48 annualized dividend and a yield of 1.31%. The Valspar Corp’s dividend payout ratio (DPR) is presently 34.02%.
Several equities research analysts recently issued reports on the company. Credit Suisse Group reissued a “hold” rating and set a $111.00 price target 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 investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $113.00.
About The Valspar Corp
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.
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