Palisade Asset Management Lowers stake in The Valspar Corp (VAL)

The Valspar Corp (VAL) : Palisade Asset Management reduced its stake in The Valspar Corp by 0.62% during the most recent quarter end. The investment management company now holds a total of 725,858 shares of The Valspar Corp which is valued at $77,695,840 after selling 4,500 shares in The Valspar Corp , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.The Valspar Corp makes up approximately 15.06% of Palisade Asset Management’s portfolio.

The Valspar Corp closed down -0.09 points or -0.08% at $106.95 with 9,89,237 shares getting traded on Monday. Post opening the session at $106.96, the shares hit an intraday low of $106.8581 and an intraday high of $107.18 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Santa Fe Partners added VAL to its portfolio by purchasing 33,558 company shares during the most recent quarter which is valued at $3,592,048. The Valspar Corp makes up approx 0.58% of Santa Fe Partners’s portfolio.Creative Planning boosted its stake in VAL in the latest quarter, The investment management firm added 34 additional shares and now holds a total of 1,961 shares of The Valspar Corp which is valued at $208,984.

On the company’s financial health, The Valspar Corp reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.65. The company had revenue of $885.80 million for the quarter, compared to analysts expectations of $906.32 million. The company’s revenue was down -12.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.85 EPS.

Many Wall Street Analysts have commented on The Valspar Corp. The Valspar Corp was Downgraded by Longbow to ” Neutral” on Mar 22, 2016. Company shares were Downgraded by Deutsche Bank on Mar 21, 2016 to ” Hold”, Firm has raised the Price Target to $ 113 from a previous price target of $92 .The Valspar Corp was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Mar 8, 2016.

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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