Alpine Partners VI LLC Takes Position in Woodward Inc. (WWD)
Alpine Partners VI LLC acquired a new position in shares of Woodward Inc. (NASDAQ:WWD) during the second quarter, Holdings Channel reports. The institutional investor acquired 7,965 shares of the company’s stock, valued at approximately $459,000.
Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Woodward by 28.8% in the second quarter. JPMorgan Chase & Co. now owns 1,983 shares of the company’s stock worth $114,000 after buying an additional 443 shares during the last quarter. Advisor Group Inc. purchased a new position in Woodward during the second quarter worth about $124,000. Acadian Asset Management LLC purchased a new position in Woodward during the second quarter worth about $160,000. Advisors Asset Management Inc. boosted its position in Woodward by 112.5% in the second quarter. Advisors Asset Management Inc. now owns 3,188 shares of the company’s stock worth $184,000 after buying an additional 1,688 shares during the period. Finally, BOKF NA purchased a new position in Woodward during the second quarter worth about $209,000. 75.13% of the stock is currently owned by institutional investors.
Woodward Inc. (NASDAQ:WWD) opened at 61.87 on Thursday. The company has a market cap of $3.80 billion, a PE ratio of 23.58 and a beta of 1.25. The company has a 50-day moving average of $61.61 and a 200 day moving average of $57.51. Woodward Inc. has a 52-week low of $41.24 and a 52-week high of $63.98.
Woodward (NASDAQ:WWD) last issued its earnings results on Wednesday, July 20th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Woodward had a net margin of 8.40% and a return on equity of 15.53%. The firm had revenue of $508 million for the quarter, compared to analyst estimates of $521.70 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that Woodward Inc. will post $2.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Monday, November 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.44 dividend on an annualized basis and a yield of 0.71%. Woodward’s dividend payout ratio is currently 16.73%.
A number of research firms have recently issued reports on WWD. Barrington Research began coverage on shares of Woodward in a research note on Friday, September 16th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of Woodward from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Tuesday, September 20th. Jefferies Group set a $59.00 target price on shares of Woodward and gave the company a “hold” rating in a research note on Wednesday, July 20th. Finally, Maxim Group lifted their target price on shares of Woodward from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Woodward presently has a consensus rating of “Hold” and a consensus target price of $60.25.
In other Woodward news, VP Christopher Fawzy sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $59.30, for a total value of $355,800.00. Following the sale, the vice president now owns 9,506 shares in the company, valued at $563,705.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary L. Petrovich sold 8,200 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $58.54, for a total transaction of $480,028.00. The disclosure for this sale can be found here. 6.18% of the stock is currently owned by company insiders.
Woodward Company Profile
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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