Emerald Acquisition Ltd. purchased a new stake in Woodward Inc. (NASDAQ:WWD) during the second quarter, Holdings Channel reports. The institutional investor purchased 8,480 shares of the company’s stock, valued at approximately $489,000.
Several other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Woodward during the second quarter worth $160,000. Mariner Wealth Advisors LLC bought a new stake in shares of Woodward during the first quarter worth $201,000. Capstone Asset Management Co. boosted its stake in shares of Woodward by 3.1% in the second quarter. Capstone Asset Management Co. now owns 4,005 shares of the company’s stock worth $231,000 after buying an additional 120 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of Woodward during the second quarter worth $237,000. Finally, LMR Partners LLP bought a new stake in shares of Woodward during the second quarter worth $484,000. Institutional investors and hedge funds own 75.10% of the company’s stock.
Shares of Woodward Inc. (NASDAQ:WWD) traded down 0.02% during trading on Wednesday, hitting $59.27. 66,329 shares of the company traded hands. Woodward Inc. has a one year low of $41.24 and a one year high of $63.98. The firm has a 50 day moving average price of $61.11 and a 200-day moving average price of $58.00. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 22.59 and a beta of 1.25.
Woodward (NASDAQ:WWD) last released its earnings results on Wednesday, July 20th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.05. The firm had revenue of $508 million for the quarter, compared to analysts’ expectations of $521.70 million. Woodward had a net margin of 8.40% and a return on equity of 15.53%. Woodward’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. Analysts predict that Woodward Inc. will post $2.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 14th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.44 annualized dividend and a dividend yield of 0.74%. Woodward’s dividend payout ratio is currently 16.73%.
A number of research analysts have recently issued reports on WWD shares. Zacks Investment Research lowered shares of Woodward from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Maxim Group boosted their price target on shares of Woodward from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 15th. Jefferies Group set a $59.00 price target on shares of Woodward and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Finally, Barrington Research initiated coverage on shares of Woodward in a research report on Friday, September 16th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $60.25.
In other news, Director Mary L. Petrovich sold 8,200 shares of Woodward stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $58.54, for a total value of $480,028.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher Fawzy sold 6,000 shares of Woodward stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $59.30, for a total transaction of $355,800.00. Following the completion of the transaction, the vice president now directly owns 9,506 shares in the company, valued at approximately $563,705.80. The disclosure for this sale can be found here. 6.18% of the stock is currently owned by insiders.
Woodward, Inc is a designer, manufacturer, and service provider of energy controls and optimization solutions. The Company has production and assembly facilities in the United States, Europe and Asia, and promotes its products and services through its worldwide locations. The Company’s is engaged in providing energy control and optimization solutions for the aerospace and energy markets.
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