Pinnacle Associates Ltd Lowers stake in The Valspar Corp (VAL)

The Valspar Corp (VAL) : Pinnacle Associates Ltd reduced its stake in The Valspar Corp by 3.18% during the most recent quarter end. The investment management company now holds a total of 719,495 shares of The Valspar Corp which is valued at $75,942,697 after selling 23,598 shares in The Valspar Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.The Valspar Corp makes up approximately 1.54% of Pinnacle Associates Ltd’s portfolio.

Other Hedge Funds, Including , Millennium Management boosted its stake in VAL in the latest quarter, The investment management firm added 52,084 additional shares and now holds a total of 134,690 shares of The Valspar Corp which is valued at $14,216,530. The Valspar Corp makes up approx 0.04% of Millennium Management’s portfolio. Sumitomo Mitsui Asset Management Company Ltd added VAL to its portfolio by purchasing 5,390 company shares during the most recent quarter which is valued at $573,873. The Valspar Corp makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.New York State Teachers Retirement System boosted its stake in VAL in the latest quarter, The investment management firm added 11,300 additional shares and now holds a total of 134,448 shares of The Valspar Corp which is valued at $14,389,969. The Valspar Corp makes up approx 0.04% of New York State Teachers Retirement System’s portfolio.Dearborn Partners boosted its stake in VAL in the latest quarter, The investment management firm added 5,543 additional shares and now holds a total of 225,474 shares of The Valspar Corp which is valued at $24,224,927. The Valspar Corp makes up approx 2.06% of Dearborn Partners’s portfolio.

The Valspar Corp opened for trading at $105.23 and hit $105.73 on the upside on Thursday, eventually ending the session at $105.56, with a gain of 0.14% or 0.15 points. The heightened volatility saw the trading volume jump to 2,46,184 shares. Company has a market cap of $8,368 M.

On the company’s financial health, The Valspar Corp reported $1.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Sep 7, 2016. Analyst had a consensus of $1.45. The company had revenue of $1141.90 million for the quarter, compared to analysts expectations of $1175.51 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.33 EPS.

The Valspar Corporation is engaged in developing manufacturing and distributing a range of coatings paints and related products. The Company operates through two business segments: Coatings and Paints. The Coatings segment includes the Company’s industrial product lines and packaging product line. The Company offers a range of decorative and protective coatings for metal wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Asia Australia Europe North America and South America. The Paints segment includes the Company’s consumer paints and automotive paint refinish product lines. The Company offers a range of paints primers topcoats and aerosol spray paints through retailers distribution networks and Company-owned stores.

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