Woodward, Inc. (WWD) Sees Large Growth in Short Interest

Woodward, Inc. (NASDAQ:WWD) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,444,902 shares, a growth of 29.8% from the November 15th total of 1,113,550 shares. Based on an average daily volume of 368,650 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.6% of the company’s stock are sold short.

In related news, Director Mary L. Petrovich sold 5,700 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $79.69, for a total value of $454,233.00. Following the completion of the transaction, the director now directly owns 27,904 shares in the company, valued at approximately $2,223,669.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.17% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WWD. Advisor Group Inc. grew its holdings in Woodward by 9.8% in the 2nd quarter. Advisor Group Inc. now owns 1,654 shares of the technology company’s stock valued at $112,000 after buying an additional 147 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Woodward by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,190 shares of the technology company’s stock valued at $148,000 after buying an additional 190 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in Woodward in the 3rd quarter valued at $203,000. CAPROCK Group Inc. acquired a new position in Woodward in the 3rd quarter valued at $222,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Woodward by 5.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,115 shares of the technology company’s stock valued at $211,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 72.15% of the company’s stock.

Several research firms have commented on WWD. Cowen restated a “hold” rating and issued a $62.00 target price on shares of Woodward in a research note on Thursday, November 9th. Oppenheimer restated a “market perform” rating and issued a $82.00 target price on shares of Woodward in a research note on Thursday, October 26th. Wood & Company cut Woodward from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Zacks Investment Research cut Woodward from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Finally, BidaskClub cut Woodward from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $77.71.

Shares of Woodward (WWD) opened at $77.80 on Thursday. Woodward has a 12 month low of $65.22 and a 12 month high of $82.94. The company has a quick ratio of 1.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $4,764.74, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.91 and a beta of 1.23.

Woodward (NASDAQ:WWD) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Woodward had a return on equity of 15.55% and a net margin of 9.55%. The business had revenue of $606.79 million for the quarter, compared to analysts’ expectations of $596.99 million. During the same quarter in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. equities analysts expect that Woodward will post 3.4 earnings per share for the current year.

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About Woodward

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

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