Cullen Investment Group LTD. Takes $703,000 Position in Howmet Aerospace Inc. (NYSE:HWM)

Cullen Investment Group LTD. bought a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the fourth quarter, HoldingsChannel reports. The firm bought 12,981 shares of the company’s stock, valued at approximately $703,000.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in Howmet Aerospace by 61.3% during the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after buying an additional 212 shares in the last quarter. Financial Freedom LLC acquired a new stake in Howmet Aerospace during the fourth quarter worth about $29,000. Headinvest LLC acquired a new stake in Howmet Aerospace during the third quarter worth about $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in Howmet Aerospace during the third quarter worth about $31,000. Finally, Clear Street Markets LLC grew its position in Howmet Aerospace by 93.8% during the first quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock worth $31,000 after buying an additional 349 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $63.48 on Tuesday. Howmet Aerospace Inc. has a 1 year low of $42.17 and a 1 year high of $69.55. The firm has a 50 day moving average of $65.33 and a 200-day moving average of $56.07. The company has a current ratio of 1.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $25.92 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. Howmet Aerospace’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Howmet Aerospace Inc. will post 2.18 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 10.93%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HWM shares. Sanford C. Bernstein began coverage on Howmet Aerospace in a research report on Friday, January 5th. They set an “outperform” rating and a $67.00 target price on the stock. KeyCorp raised their price target on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Barclays raised their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Truist Financial upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and raised their price target for the stock from $47.00 to $74.00 in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada began coverage on shares of Howmet Aerospace in a research note on Monday, March 18th. They set an “outperform” rating and a $75.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.08.

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.