Commerce Bank bought a new stake in Howmet Aerospace Inc. (NYSE:HWM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 36,307 shares of the company’s stock, valued at approximately $9,761,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock worth $279,000 after purchasing an additional 130 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Howmet Aerospace during the first quarter valued at about $399,000. Sivia Capital Partners LLC bought a new stake in shares of Howmet Aerospace during the second quarter valued at about $216,000. Brown Advisory Inc. lifted its holdings in Howmet Aerospace by 31.0% in the second quarter. Brown Advisory Inc. now owns 4,180 shares of the company’s stock worth $778,000 after purchasing an additional 990 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new stake in Howmet Aerospace in the second quarter worth about $145,000. Institutional investors own 90.46% of the company’s stock.
Howmet Aerospace Price Performance
NYSE HWM opened at $271.58 on Monday. The stock’s 50-day moving average price is $278.62 and its two-hundred day moving average price is $258.98. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 0.71. The company has a market cap of $108.66 billion, a PE ratio of 58.53, a PEG ratio of 1.94 and a beta of 1.20. Howmet Aerospace Inc. has a 1 year low of $170.24 and a 1 year high of $310.00.
Howmet Aerospace Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Friday, August 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, August 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.12. Howmet Aerospace’s payout ratio is currently 12.07%.
Analysts Set New Price Targets
Several equities analysts have commented on HWM shares. Jefferies Financial Group reissued a “buy” rating and set a $370.00 target price on shares of Howmet Aerospace in a research note on Sunday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. BTIG Research increased their price objective on shares of Howmet Aerospace from $300.00 to $340.00 and gave the company a “buy” rating in a report on Monday, August 10th. Sanford C. Bernstein reiterated an “outperform” rating and set a $318.00 price objective on shares of Howmet Aerospace in a research note on Tuesday, June 16th. Finally, TD Cowen raised their price objective on shares of Howmet Aerospace from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and an average price target of $315.67.
Read Our Latest Report on Howmet Aerospace
Howmet Aerospace Company 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.
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