Huntington Ingalls Industries Inc (NYSE:HII) shares were down 7% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $200.57 and last traded at $207.63. Approximately 881,243 shares traded hands during mid-day trading, an increase of 140% from the average daily volume of 366,972 shares. The stock had previously closed at $223.14.
The aerospace company reported $2.85 EPS for the quarter, missing analysts’ consensus estimates of $3.27 by ($0.42). Huntington Ingalls Industries had a net margin of 10.23% and a return on equity of 49.48%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the business posted $3.48 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, May 23rd. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 18.02%.
In other news, Director Thomas B. Fargo sold 700 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $220.57, for a total value of $154,399.00. Following the completion of the transaction, the director now directly owns 648 shares in the company, valued at $142,929.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian J. Cuccias sold 3,543 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $210.39, for a total value of $745,411.77. Following the completion of the transaction, the vice president now owns 55,229 shares of the company’s stock, valued at $11,619,629.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,451 shares of company stock valued at $2,602,287. Company insiders own 2.65% of the company’s stock.
Large investors have recently made changes to their positions in the company. Athena Capital Advisors LLC acquired a new stake in Huntington Ingalls Industries during the fourth quarter worth about $28,000. CSat Investment Advisory L.P. grew its holdings in Huntington Ingalls Industries by 89.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 150 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 71 shares during the period. Howe & Rusling Inc. grew its holdings in Huntington Ingalls Industries by 433.3% during the first quarter. Howe & Rusling Inc. now owns 160 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 130 shares during the period. Dubuque Bank & Trust Co. grew its holdings in Huntington Ingalls Industries by 56.4% during the first quarter. Dubuque Bank & Trust Co. now owns 208 shares of the aerospace company’s stock worth $43,000 after acquiring an additional 75 shares during the period. Finally, Cypress Capital Management LLC WY acquired a new stake in Huntington Ingalls Industries during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 85.77% of the company’s stock.
The firm has a market capitalization of $9.27 billion, a P/E ratio of 11.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.88.
COPYRIGHT VIOLATION NOTICE: This report was first published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.baseballdailydigest.com/news/2019/05/04/huntington-ingalls-industries-hii-shares-down-7-following-weak-earnings.html.
Huntington Ingalls Industries Company Profile (NYSE:HII)
Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.
See Also: Return on Equity (ROE)
Receive News & Ratings for Huntington Ingalls Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Ingalls Industries and related companies with MarketBeat.com's FREE daily email newsletter.