abrdn plc Buys 83,061 Shares of Howmet Aerospace Inc. (NYSE:HWM)

abrdn plc increased its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 84.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 181,171 shares of the company’s stock after acquiring an additional 83,061 shares during the period. abrdn plc’s holdings in Howmet Aerospace were worth $9,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Venturi Wealth Management LLC raised its position in Howmet Aerospace by 61.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after purchasing an additional 212 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in Howmet Aerospace during the 3rd quarter valued at $31,000. Headinvest LLC bought a new stake in Howmet Aerospace during the 3rd quarter valued at $30,000. Blue Trust Inc. raised its position in Howmet Aerospace by 33.1% during the 4th quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock valued at $59,000 after purchasing an additional 271 shares in the last quarter. Finally, Huntington National Bank raised its position in Howmet Aerospace by 24.5% during the 3rd quarter. Huntington National Bank now owns 1,315 shares of the company’s stock valued at $61,000 after purchasing an additional 259 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.12% of the stock is owned by corporate insiders.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $66.40 on Friday. The stock has a market capitalization of $27.12 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 1.68 and a beta of 1.43. Howmet Aerospace Inc. has a 12 month low of $42.17 and a 12 month high of $69.55. The firm’s 50 day simple moving average is $65.97 and its 200-day simple moving average is $57.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87.

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

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Analysts Set New Price Targets

HWM has been the subject of a number of research analyst reports. KeyCorp lifted their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Royal Bank of Canada started coverage on Howmet Aerospace in a research report on Monday, March 18th. They set an “outperform” rating and a $75.00 target price for the company. UBS Group lifted their price target on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Howmet Aerospace from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Howmet Aerospace Profile

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.