Howmet Aerospace (NYSE:HWM) Reaches New 1-Year High on Strong Earnings

Shares of Howmet Aerospace Inc. (NYSE:HWM) reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $149.00 and last traded at $148.25, with a volume of 339805 shares traded. The stock had previously closed at $138.58.

The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, May 9th. Howmet Aerospace’s dividend payout ratio is presently 14.18%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HWM shares. Barclays upped their target price on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Truist Financial dropped their target price on shares of Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group lifted their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.17.

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds have recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new stake in Howmet Aerospace during the fourth quarter worth about $25,000. Meeder Asset Management Inc. lifted its stake in shares of Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Howmet Aerospace during the fourth quarter worth $25,000. R Squared Ltd acquired a new stake in Howmet Aerospace during the fourth quarter valued at $26,000. Finally, Washington Trust Advisors Inc. purchased a new position in Howmet Aerospace in the fourth quarter valued at $29,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Performance

The business’s 50-day simple moving average is $129.01 and its two-hundred day simple moving average is $121.03. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The firm has a market cap of $62.35 billion, a price-to-earnings ratio of 54.67, a P/E/G ratio of 1.92 and a beta of 1.25.

Howmet Aerospace Company Profile

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.