Howmet Aerospace Inc. (NYSE:HWM) Stock Position Decreased by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of Howmet Aerospace Inc. (NYSE:HWMGet Rating) by 23.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,179 shares of the company’s stock after selling 58,895 shares during the quarter. Bank of Montreal Can’s holdings in Howmet Aerospace were worth $6,930,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HWM. Advisor Group Holdings Inc. boosted its position in shares of Howmet Aerospace by 4.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 24,440 shares of the company’s stock worth $778,000 after buying an additional 1,139 shares during the period. American Century Companies Inc. boosted its position in shares of Howmet Aerospace by 13.5% in the fourth quarter. American Century Companies Inc. now owns 17,457 shares of the company’s stock worth $556,000 after buying an additional 2,077 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Howmet Aerospace by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 28,802 shares of the company’s stock worth $917,000 after buying an additional 822 shares during the period. Aviva PLC boosted its position in shares of Howmet Aerospace by 3.0% in the fourth quarter. Aviva PLC now owns 121,838 shares of the company’s stock worth $3,878,000 after buying an additional 3,506 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Howmet Aerospace by 21.9% during the fourth quarter. Teacher Retirement System of Texas now owns 76,063 shares of the company’s stock worth $2,421,000 after acquiring an additional 13,670 shares in the last quarter. Institutional investors and hedge funds own 90.86% of the company’s stock.

Howmet Aerospace Price Performance

NYSE HWM opened at $35.36 on Thursday. Howmet Aerospace Inc. has a fifty-two week low of $27.41 and a fifty-two week high of $38.99. The stock’s 50-day moving average is $35.48 and its two-hundred day moving average is $34.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.15 and a quick ratio of 0.96. The firm has a market cap of $14.69 billion, a P/E ratio of 39.29 and a beta of 1.58.

Howmet Aerospace (NYSE:HWMGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Howmet Aerospace had a return on equity of 15.45% and a net margin of 7.23%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Howmet Aerospace Inc. will post 1.42 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Friday, August 5th were paid a $0.02 dividend. The ex-dividend date was Thursday, August 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.23%. Howmet Aerospace’s payout ratio is presently 8.89%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HWM. Argus increased their price objective on Howmet Aerospace from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 7th. Benchmark upgraded Howmet Aerospace from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, July 8th. Truist Financial began coverage on Howmet Aerospace in a report on Wednesday, July 6th. They set a “buy” rating and a $41.00 price objective for the company. Finally, KeyCorp cut their price objective on Howmet Aerospace from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Buy” and an average price target of $40.57.

Howmet Aerospace Company Profile

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Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.

Further Reading

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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