Mackenzie Financial Corp Has $1.74 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Mackenzie Financial Corp reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,121 shares of the company’s stock after selling 1,519 shares during the quarter. Mackenzie Financial Corp’s holdings in Howmet Aerospace were worth $1,738,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HWM. JPMorgan Chase & Co. raised its stake in Howmet Aerospace by 118.7% during the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after acquiring an additional 7,184,620 shares in the last quarter. FMR LLC grew its holdings in shares of Howmet Aerospace by 21.2% during the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock worth $697,734,000 after purchasing an additional 2,635,894 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Howmet Aerospace by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company’s stock worth $1,087,216,000 after purchasing an additional 897,463 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Howmet Aerospace by 79.9% during the third quarter. Hsbc Holdings PLC now owns 1,291,989 shares of the company’s stock worth $59,754,000 after purchasing an additional 573,903 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Howmet Aerospace by 313.7% during the third quarter. Qube Research & Technologies Ltd now owns 732,016 shares of the company’s stock worth $33,856,000 after purchasing an additional 555,054 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on HWM shares. Truist Financial upgraded Howmet Aerospace from a “hold” rating to a “buy” rating and increased their target price for the stock from $47.00 to $74.00 in a report on Wednesday, January 10th. The Goldman Sachs Group increased their target price on Howmet Aerospace from $65.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Benchmark restated a “buy” rating and set a $53.00 target price on shares of Howmet Aerospace in a report on Friday, April 19th. Robert W. Baird raised their price target on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.00.

Howmet Aerospace Price Performance

Shares of HWM opened at $64.77 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.88. Howmet Aerospace Inc. has a 1 year low of $42.17 and a 1 year high of $69.55. The stock has a market cap of $26.45 billion, a P/E ratio of 35.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The stock’s 50-day moving average price is $65.84 and its two-hundred day moving average price is $56.83.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts predict that Howmet Aerospace Inc. will post 2.18 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 10.93%.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.12% of the company’s stock.

About Howmet Aerospace

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.