Retirement Systems of Alabama boosted its stake in Curtiss-Wright Corp. (NYSE:CW) by 160.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 149,280 shares of the company’s stock after buying an additional 91,863 shares during the period. Retirement Systems of Alabama’s holdings in Curtiss-Wright Corp. were worth $12,577,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CW. State Street Corp increased its position in Curtiss-Wright Corp. by 48.4% in the first quarter. State Street Corp now owns 1,558,198 shares of the company’s stock valued at $117,910,000 after buying an additional 508,349 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Curtiss-Wright Corp. by 141.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 635,740 shares of the company’s stock valued at $48,106,000 after buying an additional 372,806 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Curtiss-Wright Corp. by 121.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 72,392 shares of the company’s stock valued at $5,478,000 after buying an additional 39,664 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Curtiss-Wright Corp. by 56,763.9% in the second quarter. BNP Paribas Arbitrage SA now owns 20,471 shares of the company’s stock valued at $1,725,000 after buying an additional 20,435 shares during the period. Finally, Adams Diversified Equity Fund Inc. acquired a new position in shares of Curtiss-Wright Corp. during the second quarter valued at approximately $531,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.
Curtiss-Wright Corp. (NYSE:CW) traded down 0.35% during trading on Monday, hitting $90.79. The stock had a trading volume of 235,815 shares. Curtiss-Wright Corp. has a one year low of $62.57 and a one year high of $91.65. The company has a market cap of $4.03 billion, a P/E ratio of 23.64 and a beta of 1.27. The firm has a 50 day moving average of $89.15 and a 200-day moving average of $83.67.
Curtiss-Wright Corp. (NYSE:CW) last released its earnings results on Wednesday, July 27th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $532.80 million for the quarter, compared to the consensus estimate of $523.84 million. Curtiss-Wright Corp. had a return on equity of 14.15% and a net margin of 8.21%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. Equities analysts anticipate that Curtiss-Wright Corp. will post $4.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.57%. Curtiss-Wright Corp.’s dividend payout ratio (DPR) is presently 13.58%.
Several brokerages have commented on CW. William Blair began coverage on Curtiss-Wright Corp. in a research report on Wednesday, August 3rd. They issued a “market perform” rating and a $92.00 price objective on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $95.00 price objective (up previously from $89.00) on shares of Curtiss-Wright Corp. in a research report on Monday, June 13th. Finally, Zacks Investment Research raised Curtiss-Wright Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th.
In related news, Director John B. Nathman sold 6,000 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $90.77, for a total transaction of $544,620.00. Following the transaction, the director now owns 5,455 shares in the company, valued at $495,150.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William W. Dr Sihler sold 797 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $82.06, for a total value of $65,401.82. Following the transaction, the director now owns 7,521 shares in the company, valued at approximately $617,173.26. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
About Curtiss-Wright Corp.
Curtiss-Wright Corporation is a provider of engineered products and services to the commercial, defense, energy and industrial markets. The Company operates through three segments: Commercial/Industrial, which provides a diversified offering of engineered products and services supporting applications primarily across the commercial aerospace and general industrial markets; Defense, which consists of businesses that primarily provide products to the defense markets and to the commercial aerospace market, and Power, which consists of businesses that primarily provide products to the power generation markets and to the naval defense market.
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