Howmet Aerospace Inc. $HWM Shares Bought by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan grew its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 62.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,862 shares of the company’s stock after buying an additional 4,170 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Howmet Aerospace were worth $2,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in Howmet Aerospace during the second quarter worth $1,633,157,000. JPMorgan Chase & Co. increased its stake in shares of Howmet Aerospace by 30.1% during the second quarter. JPMorgan Chase & Co. now owns 31,806,624 shares of the company’s stock worth $5,920,181,000 after purchasing an additional 7,356,077 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Howmet Aerospace by 51.8% during the second quarter. American Century Companies Inc. now owns 3,635,999 shares of the company’s stock worth $676,769,000 after purchasing an additional 1,240,071 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Howmet Aerospace by 1,340.2% during the 2nd quarter. Nordea Investment Management AB now owns 880,155 shares of the company’s stock worth $163,137,000 after purchasing an additional 819,040 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Howmet Aerospace by 68.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,915,955 shares of the company’s stock valued at $356,617,000 after buying an additional 780,896 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

HWM has been the subject of several research reports. TD Cowen reiterated a “buy” rating on shares of Howmet Aerospace in a research note on Friday, October 31st. Truist Financial set a $258.00 price target on Howmet Aerospace in a research report on Friday, January 9th. BNP Paribas Exane began coverage on Howmet Aerospace in a report on Tuesday, November 18th. They issued an “outperform” rating and a $240.00 price objective on the stock. BTIG Research upped their target price on shares of Howmet Aerospace from $205.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $247.00 target price on shares of Howmet Aerospace in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.53.

Howmet Aerospace Stock Up 6.6%

Shares of HWM opened at $223.44 on Friday. Howmet Aerospace Inc. has a 52-week low of $105.04 and a 52-week high of $226.87. The company has a quick ratio of 1.14, a current ratio of 2.35 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $208.52 and a two-hundred day simple moving average of $196.34. The company has a market capitalization of $89.84 billion, a PE ratio of 62.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.26.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.2%. Howmet Aerospace’s payout ratio is 13.48%.

Howmet Aerospace Profile

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.