BWX Technologies, Inc. (NYSE:BWXT – Get Free Report) shares hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $76.02 and last traded at $74.91, with a volume of 309212 shares traded. The stock had previously closed at $68.62.
The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $612.40 million for the quarter, compared to analysts’ expectations of $558.25 million. BWX Technologies had a return on equity of 39.04% and a net margin of 10.58%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS.
BWX Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 17th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, August 16th. BWX Technologies’s dividend payout ratio is presently 34.98%.
Wall Street Analyst Weigh In
Institutional Trading of BWX Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of BWX Technologies by 23.7% during the first quarter. JPMorgan Chase & Co. now owns 170,652 shares of the technology company’s stock worth $9,191,000 after acquiring an additional 32,688 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of BWX Technologies during the first quarter worth $207,000. American Century Companies Inc. increased its position in shares of BWX Technologies by 14.8% during the first quarter. American Century Companies Inc. now owns 14,741 shares of the technology company’s stock worth $794,000 after acquiring an additional 1,902 shares during the period. HighTower Advisors LLC purchased a new stake in shares of BWX Technologies during the first quarter worth $209,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of BWX Technologies during the first quarter worth $266,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.
BWX Technologies Stock Up 7.6 %
The business has a 50-day moving average price of $68.40 and a two-hundred day moving average price of $64.43. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.73. The firm has a market cap of $6.75 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 4.68 and a beta of 0.84.
BWX Technologies Company Profile
BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments: Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S.
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