Donald Yacktman (Trades, Portfolio) of the Yacktman Fund (Trades, Portfolio)s bought one new stock in the first quarter, Raven Industries (RAVN, Financial).
Yacktman bought 26,500 shares of the company, amounting to 0.07% of its shares outstanding. In the first quarter the stock sold for an average price of $22 per share. On Thursday, it closed at $19.94 per share, an 8% decline. Since the start of the year, the price has declined 20.2%.
Raven is a company that manufactures an array of technical products used in the agriculture, high performance specialty films, aerospace and situational awareness markets.
In the fourth quarter, the company made $89.9 million in revenue, down 3% from the same quarter a year ago. Net income also decreased to $6.2 million, or $0.16 per diluted share, from $8.3 million, or $0.23 per diluted share.
The company also announced in its results that it would implement a restructuring plan costing $13 million in its Applied Technology division due to a “significant decline” in its business.
Raven Industries has a P/E ratio of 23.4, a P/B ratio near a 10-year low at 2.56 and a P/S ratio near a five-year low at 2.
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