Woodward, Inc.Common Stock (WWD) Shares Up 7% After Better-Than-Expected Earnings
Woodward, Inc.Common Stock (NASDAQ:WWD) shot up 7% on Thursday following a better than expected earnings announcement. The company traded as high as $88.50 and last traded at $84.04. 621,905 shares were traded during trading, an increase of 73% from the average session volume of 358,464 shares. The stock had previously closed at $78.57.
The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. Woodward, Inc.Common Stock had a return on equity of 15.40% and a net margin of 7.59%. The company had revenue of $719.40 million for the quarter, compared to analysts’ expectations of $689.01 million. During the same period last year, the business earned $0.98 EPS. Woodward, Inc.Common Stock’s quarterly revenue was up 18.6% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th will be paid a dividend of $0.1425 per share. The ex-dividend date of this dividend is Friday, November 9th. This is a boost from Woodward, Inc.Common Stock’s previous quarterly dividend of $0.14. This represents a $0.57 annualized dividend and a yield of 0.68%. Woodward, Inc.Common Stock’s dividend payout ratio (DPR) is 18.04%.
In other news, CFO Robert F. Weber, Jr. sold 9,135 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $80.09, for a total transaction of $731,622.15. Following the completion of the sale, the chief financial officer now directly owns 35,688 shares of the company’s stock, valued at approximately $2,858,251.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert F. Weber, Jr. sold 10,865 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $79.14, for a total value of $859,856.10. Following the sale, the chief financial officer now directly owns 35,688 shares of the company’s stock, valued at $2,824,348.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,800 shares of company stock worth $2,377,942. Company insiders own 6.17% of the company’s stock.
Several institutional investors have recently made changes to their positions in WWD. BlackRock Inc. increased its position in shares of Woodward, Inc.Common Stock by 4.1% during the 2nd quarter. BlackRock Inc. now owns 5,977,566 shares of the technology company’s stock valued at $459,435,000 after purchasing an additional 236,693 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Woodward, Inc.Common Stock by 11.6% during the 2nd quarter. Voya Investment Management LLC now owns 918,121 shares of the technology company’s stock valued at $70,566,000 after purchasing an additional 95,756 shares during the last quarter. Pembroke Management LTD purchased a new stake in shares of Woodward, Inc.Common Stock during the 2nd quarter valued at $7,254,000. Fort Washington Investment Advisors Inc. OH increased its holdings in Woodward, Inc.Common Stock by 39.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 230,361 shares of the technology company’s stock worth $17,706,000 after acquiring an additional 65,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Woodward, Inc.Common Stock by 27.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 289,100 shares of the technology company’s stock worth $22,220,000 after acquiring an additional 61,700 shares during the last quarter. 73.62% of the stock is owned by hedge funds and other institutional investors.
The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 1.40 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.11 and a quick ratio of 1.01.
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About Woodward, Inc.Common Stock (NASDAQ:WWD)
Woodward, Inc designs, manufactures, and services energy control and optimization solutions for the aerospace and industrial markets worldwide. Its Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles; and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft that are used on commercial and private aircrafts and rotorcrafts, as well as in military fixed-wing aircrafts and rotorcrafts, weapons, and defense systems.
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