Howmet Aerospace (NYSE:HWM) Hits New 52-Week High at $81.47

Howmet Aerospace Inc. (NYSE:HWM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $81.47 and last traded at $81.03, with a volume of 604998 shares changing hands. The stock had previously closed at $79.83.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. KeyCorp increased their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Truist Financial raised their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Robert W. Baird raised their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.67.

Howmet Aerospace Price Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The business’s 50 day simple moving average is $66.98 and its 200-day simple moving average is $58.41. The stock has a market capitalization of $33.06 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. Howmet Aerospace’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. Research analysts anticipate that Howmet Aerospace Inc. will post 2.37 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is currently 9.66%.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the company’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 sale, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.

Institutional Trading of Howmet Aerospace

Institutional investors have recently made changes to their positions in the stock. Accurate Wealth Management LLC bought a new stake in shares of Howmet Aerospace in the 4th quarter worth approximately $2,825,000. First Trust Direct Indexing L.P. raised its holdings in shares of Howmet Aerospace by 24.8% during the fourth quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock valued at $345,000 after acquiring an additional 1,269 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Howmet Aerospace during the third quarter valued at approximately $1,697,000. QRG Capital Management Inc. acquired a new stake in shares of Howmet Aerospace during the third quarter valued at approximately $407,000. Finally, Cullen Investment Group LTD. acquired a new stake in shares of Howmet Aerospace during the fourth quarter valued at approximately $703,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Company 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.