Howmet Aerospace (NYSE:HWM) Hits New 52-Week High – Still a Buy?

Shares of Howmet Aerospace Inc. (NYSE:HWM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $227.49 and last traded at $226.6160, with a volume of 224639 shares. The stock had previously closed at $225.15.

Analyst Ratings Changes

HWM has been the subject of several recent analyst reports. Royal Bank Of Canada increased their target price on shares of Howmet Aerospace from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. UBS Group boosted their price target on Howmet Aerospace from $199.00 to $209.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Howmet Aerospace in a research note on Thursday, January 22nd. Bank of America lifted their price objective on Howmet Aerospace from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, BTIG Research increased their target price on Howmet Aerospace from $205.00 to $240.00 and gave the company a “buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.53.

Howmet Aerospace Stock Performance

The firm’s 50-day simple moving average is $209.05 and its 200-day simple moving average is $196.69. The company has a market capitalization of $90.57 billion, a PE ratio of 63.23, a PEG ratio of 2.11 and a beta of 1.26. The company has a current ratio of 2.35, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

Howmet Aerospace Dividend Announcement

The business 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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, February 6th. Howmet Aerospace’s payout ratio is 13.48%.

Institutional Investors Weigh In On Howmet Aerospace

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Howmet Aerospace in the second quarter valued at $1,633,157,000. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 7,356,077 shares during the period. American Century Companies Inc. raised its position in shares of Howmet Aerospace by 51.8% during the 2nd 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 during the last quarter. Nordea Investment Management AB raised its holdings in shares of Howmet Aerospace by 1,340.2% during the second quarter. Nordea Investment Management AB now owns 880,155 shares of the company’s stock valued at $163,137,000 after acquiring an additional 819,040 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Howmet Aerospace by 12.2% in the 3rd quarter. Invesco Ltd. now owns 7,367,438 shares of the company’s stock valued at $1,445,712,000 after purchasing an additional 801,093 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

About Howmet Aerospace

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.