Insider Buying: Babcock & Wilcox (BW) Major Shareholder Buys 3,400,809 Shares of Stock

Babcock & Wilcox (NYSE:BW) major shareholder Steel Partners Holdings L.P. purchased 3,400,809 shares of Babcock & Wilcox stock in a transaction on Monday, April 30th. The stock was bought at an average price of $2.00 per share, for a total transaction of $6,801,618.00. The purchase was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Steel Partners Holdings L.P. also recently made the following trade(s):

  • On Tuesday, March 13th, Steel Partners Holdings L.P. purchased 182,794 shares of Babcock & Wilcox stock. The stock was bought at an average price of $6.25 per share, for a total transaction of $1,142,462.50.
  • On Friday, March 9th, Steel Partners Holdings L.P. purchased 495,796 shares of Babcock & Wilcox stock. The stock was bought at an average price of $6.13 per share, for a total transaction of $3,039,229.48.
  • On Tuesday, March 6th, Steel Partners Holdings L.P. purchased 492,667 shares of Babcock & Wilcox stock. The stock was bought at an average price of $5.63 per share, for a total transaction of $2,773,715.21.
  • On Friday, February 23rd, Steel Partners Holdings L.P. purchased 200,000 shares of Babcock & Wilcox stock. The stock was bought at an average price of $6.89 per share, for a total transaction of $1,378,000.00.
  • On Monday, February 12th, Steel Partners Holdings L.P. purchased 41,456 shares of Babcock & Wilcox stock. The stock was bought at an average price of $5.90 per share, for a total transaction of $244,590.40.
  • On Thursday, February 8th, Steel Partners Holdings L.P. acquired 100,000 shares of Babcock & Wilcox stock. The stock was acquired at an average cost of $5.60 per share, for a total transaction of $560,000.00.

Shares of Babcock & Wilcox opened at $2.69 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $125.20 million, a PE ratio of -0.67 and a beta of 1.90. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.88 and a current ratio of 0.98. Babcock & Wilcox has a 1 year low of $2.78 and a 1 year high of $2.85.

Babcock & Wilcox (NYSE:BW) last announced its quarterly earnings data on Tuesday, May 8th. The technology company reported ($2.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($2.00). Babcock & Wilcox had a negative net margin of 33.38% and a negative return on equity of 120.03%. The business had revenue of $311.40 million during the quarter, compared to analyst estimates of $385.70 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The firm’s revenue for the quarter was down 20.4% compared to the same quarter last year.

Hedge funds have recently bought and sold shares of the stock. Stone Ridge Asset Management LLC acquired a new position in Babcock & Wilcox during the 4th quarter worth approximately $106,000. MetLife Investment Advisors LLC acquired a new position in Babcock & Wilcox during the 4th quarter worth approximately $128,000. BlueCrest Capital Management Ltd acquired a new position in Babcock & Wilcox during the 4th quarter worth approximately $143,000. OppenheimerFunds Inc. acquired a new position in Babcock & Wilcox during the 4th quarter worth approximately $165,000. Finally, The Manufacturers Life Insurance Company raised its stake in Babcock & Wilcox by 36.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 35,829 shares of the technology company’s stock worth $203,000 after buying an additional 9,655 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Babcock & Wilcox from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Credit Suisse Group dropped their price objective on Babcock & Wilcox from $4.30 to $3.50 and set an “underperform” rating on the stock in a research note on Monday, March 19th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Babcock & Wilcox has an average rating of “Hold” and an average target price of $7.13.

About Babcock & Wilcox

Babcock & Wilcox Enterprises, Inc provides fossil and renewable power generation and environmental equipment for the power and industrial markets worldwide. Its Power segment offers boiler cleaning and material handling equipment; and supercritical, subcritical, fluidized bed, chemical recovery, industrial power, package, and waste heat boilers, as well as heat recovery steam generators.

Insider Buying and Selling by Quarter for Babcock & Wilcox (NYSE:BW)

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