Howmet Aerospace (NYSE:HWM) Reaches New 1-Year High at $39.23

Shares of Howmet Aerospace Inc. (NYSE:HWMGet Rating) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $39.23 and last traded at $38.74, with a volume of 59154 shares trading hands. The stock had previously closed at $38.30.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HWM shares. Truist Financial lifted their price target on shares of Howmet Aerospace to $32.00 in a report on Friday, November 4th. Wolfe Research restated an “outperform” rating and issued a $44.00 price objective on shares of Howmet Aerospace in a research report on Tuesday, October 11th. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Howmet Aerospace from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, September 8th. Finally, KeyCorp raised their price objective on shares of Howmet Aerospace from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Howmet Aerospace Stock Down 2.3 %

The company has a current ratio of 2.06, a quick ratio of 0.89 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $34.29 and its two-hundred day moving average is $34.58. The firm has a market cap of $15.49 billion, a P/E ratio of 36.34, a price-to-earnings-growth ratio of 1.09 and a beta of 1.59.

Howmet Aerospace (NYSE:HWMGet Rating) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Howmet Aerospace had a net margin of 8.00% and a return on equity of 16.76%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts anticipate that Howmet Aerospace Inc. will post 1.4 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.43%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.02. Howmet Aerospace’s payout ratio is presently 15.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in shares of Howmet Aerospace by 7.7% in the third quarter. Envestnet Asset Management Inc. now owns 208,383 shares of the company’s stock worth $6,445,000 after purchasing an additional 14,936 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Howmet Aerospace by 6.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 89,178 shares of the company’s stock worth $2,758,000 after purchasing an additional 5,270 shares in the last quarter. Quent Capital LLC lifted its position in shares of Howmet Aerospace by 14.4% in the third quarter. Quent Capital LLC now owns 4,455 shares of the company’s stock worth $138,000 after purchasing an additional 561 shares in the last quarter. Credit Agricole S A bought a new stake in shares of Howmet Aerospace in the third quarter worth $103,000. Finally, WINTON GROUP Ltd lifted its position in shares of Howmet Aerospace by 150.4% in the third quarter. WINTON GROUP Ltd now owns 31,161 shares of the company’s stock worth $964,000 after purchasing an additional 18,716 shares in the last quarter. Institutional investors own 90.86% of the company’s stock.

Howmet Aerospace Company Profile

(Get Rating)

Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.

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