BWX Technologies (BWXT) Sets New 52-Week Low Following Insider Selling

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BWX Technologies Inc (NYSE:BWXT)’s share price hit a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as $56.80 and last traded at $57.82, with a volume of 16693 shares. The stock had previously closed at $58.17.

Specifically, CFO David S. Black sold 1,000 shares of BWX Technologies stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $57.65, for a total value of $57,650.00. Following the transaction, the chief financial officer now directly owns 68,570 shares in the company, valued at $3,953,060.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jason S. Kerr sold 1,365 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $64.06, for a total value of $87,441.90. Following the transaction, the vice president now owns 9,132 shares in the company, valued at $584,995.92. The disclosure for this sale can be found here. Insiders sold 4,365 shares of company stock worth $269,062 over the last quarter. 0.52% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on BWXT. SunTrust Banks lowered their price target on BWX Technologies from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, August 21st. Drexel Hamilton restated a “buy” rating and set a $78.00 price target on shares of BWX Technologies in a research note on Thursday, June 21st. Finally, Zacks Investment Research lowered BWX Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. BWX Technologies presently has a consensus rating of “Hold” and an average price target of $70.00.

The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 1.72. The company has a market cap of $6.24 billion, a PE ratio of 28.05, a PEG ratio of 2.20 and a beta of 0.45.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). BWX Technologies had a net margin of 9.05% and a return on equity of 66.19%. The firm had revenue of $438.92 million for the quarter, compared to the consensus estimate of $445.70 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that BWX Technologies Inc will post 2.54 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. CENTRAL TRUST Co bought a new stake in shares of BWX Technologies in the 3rd quarter valued at approximately $100,000. Ostrum Asset Management bought a new stake in shares of BWX Technologies in the 1st quarter valued at approximately $108,000. Destination Wealth Management grew its stake in shares of BWX Technologies by 2,867.8% in the 2nd quarter. Destination Wealth Management now owns 1,751 shares of the technology company’s stock valued at $109,000 after purchasing an additional 1,692 shares during the period. Fort L.P. bought a new stake in shares of BWX Technologies in the 2nd quarter valued at approximately $118,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of BWX Technologies by 2,445.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,113 shares of the technology company’s stock valued at $132,000 after purchasing an additional 2,030 shares during the period. Institutional investors own 95.28% of the company’s stock.

About BWX Technologies (NYSE:BWXT)

BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.

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