Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High Following Strong Earnings

Howmet Aerospace Inc. (NYSE:HWM)’s share price reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $77.88 and last traded at $77.01, with a volume of 1610642 shares traded. The stock had previously closed at $66.78.

The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. 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 firm’s revenue was up 13.8% on a year-over-year basis.

Howmet Aerospace Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is 10.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HWM. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Truist Financial increased their price target on Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday. KeyCorp boosted their price target on Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research report on Friday, January 5th. They issued an “outperform” rating and a $67.00 price objective for the company. Finally, Barclays lifted their target price on shares of Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $69.77.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Accurate Wealth Management LLC purchased a new stake in Howmet Aerospace during the fourth quarter worth $2,825,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Howmet Aerospace during the 3rd quarter valued at about $1,697,000. QRG Capital Management Inc. purchased a new position in shares of Howmet Aerospace in the 3rd quarter valued at about $407,000. Cullen Investment Group LTD. purchased a new position in shares of Howmet Aerospace in the 4th quarter valued at about $703,000. Finally, Victory Capital Management Inc. raised its holdings in Howmet Aerospace by 15.0% in the 3rd quarter. Victory Capital Management Inc. now owns 347,072 shares of the company’s stock worth $16,052,000 after purchasing an additional 45,246 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 2.3 %

The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $66.44 and a 200-day simple moving average of $57.73. The company has a market cap of $32.21 billion, a PE ratio of 43.10, a P/E/G ratio of 1.74 and a beta of 1.41.

About Howmet Aerospace

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.