Principal Financial Group Inc. Increases Stake in Howmet Aerospace Inc. (NYSE:HWM)

Principal Financial Group Inc. lifted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,023,314 shares of the company’s stock after acquiring an additional 6,360 shares during the period. Principal Financial Group Inc.’s holdings in Howmet Aerospace were worth $55,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HWM. QRG Capital Management Inc. lifted its holdings in Howmet Aerospace by 45.0% in the fourth quarter. QRG Capital Management Inc. now owns 12,762 shares of the company’s stock valued at $691,000 after acquiring an additional 3,959 shares during the period. Jump Financial LLC grew its position in Howmet Aerospace by 143.2% during the fourth quarter. Jump Financial LLC now owns 83,184 shares of the company’s stock valued at $4,502,000 after buying an additional 48,985 shares during the period. Versor Investments LP purchased a new position in Howmet Aerospace in the fourth quarter valued at $652,000. Principal Securities Inc. acquired a new position in shares of Howmet Aerospace in the fourth quarter worth about $93,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Howmet Aerospace by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,137,935 shares of the company’s stock worth $115,705,000 after acquiring an additional 22,224 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Up 2.3 %

NYSE HWM opened at $82.75 on Thursday. The firm has a market cap of $33.78 billion, a PE ratio of 39.98, a P/E/G ratio of 1.61 and a beta of 1.41. Howmet Aerospace Inc. has a 52 week low of $42.17 and a 52 week high of $82.84. The business’s fifty day simple moving average is $68.93 and its 200-day simple moving average is $60.16. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Howmet Aerospace Inc. will post 2.39 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders 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 yield of 0.24%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is currently 9.66%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HWM. Barclays upped their price target on Howmet Aerospace from $65.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Robert W. Baird lifted their price target on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Truist Financial increased their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 3rd. The Goldman Sachs Group boosted their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.67.

Insider Buying and Selling 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 stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by company insiders.

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.