Howmet Aerospace Inc. $HWM Shares Newly Acquired by M&G PLC

M&G PLC acquired a new position in Howmet Aerospace Inc. (NYSE:HWM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 63,783 shares of the company’s stock, valued at approximately $14,415,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Howmet Aerospace in the 2nd quarter worth $12,318,939,000. State Street Corp increased its stake in shares of Howmet Aerospace by 3.3% during the second quarter. State Street Corp now owns 18,933,928 shares of the company’s stock valued at $5,090,576,000 after buying an additional 612,866 shares during the period. Bank of America Corp DE raised its holdings in shares of Howmet Aerospace by 1.7% in the first quarter. Bank of America Corp DE now owns 10,728,447 shares of the company’s stock valued at $2,472,478,000 after acquiring an additional 177,533 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Howmet Aerospace in the second quarter valued at about $2,065,086,000. Finally, Bank of New York Mellon Corp purchased a new stake in Howmet Aerospace in the second quarter worth about $1,099,765,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $219.01 on Wednesday. The company has a market capitalization of $87.09 billion, a PE ratio of 42.86, a P/E/G ratio of 1.58 and a beta of 1.31. The company has a 50-day simple moving average of $221.90 and a two-hundred day simple moving average of $248.18. Howmet Aerospace Inc. has a one year low of $183.52 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.90 and a current ratio of 1.86.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $0.95 EPS. The company’s revenue was up 29.4% compared to the same quarter last year. Research analysts expect that Howmet Aerospace Inc. will post 5.49 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, November 6th. Howmet Aerospace’s dividend payout ratio (DPR) is 10.96%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HWM. JPMorgan Chase & Co. increased their target price on shares of Howmet Aerospace from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. UBS Group reduced their price target on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, October 30th. BTIG Research lowered their price target on shares of Howmet Aerospace from $340.00 to $280.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Wells Fargo & Company lowered their price target on shares of Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 30th. Finally, BNP Paribas Exane cut their price objective on shares of Howmet Aerospace from $310.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average target price of $295.81.

Howmet Aerospace Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.