Howmet Aerospace (NYSE:HWM) Reaches New 52-Week High After Dividend Announcement

Howmet Aerospace Inc. (NYSE:HWM)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $191.92 and last traded at $191.70, with a volume of 261577 shares. The stock had previously closed at $189.17.

The newly announced dividend which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.12 per share. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, August 8th. Howmet Aerospace’s payout ratio is currently 13.03%.

Wall Street Analysts Forecast Growth

HWM has been the subject of a number of recent research reports. UBS Group boosted their price target on Howmet Aerospace from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Northcoast Research raised Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Benchmark lifted their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Truist Financial lifted their price objective on Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.44.

Howmet Aerospace Price Performance

The firm’s fifty day moving average price is $177.62 and its 200 day moving average price is $148.24. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70. The stock has a market cap of $77.76 billion, a PE ratio of 62.75, a P/E/G ratio of 2.78 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the sale, the executive vice president directly owned 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the sale, the vice president directly owned 23,044 shares in the company, valued at $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock valued at $130,517,863 in the last ninety days. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of Howmet Aerospace

Hedge funds have recently modified their holdings of the company. Interchange Capital Partners LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth approximately $39,000. REAP Financial Group LLC raised its holdings in shares of Howmet Aerospace by 101.9% during the 2nd quarter. REAP Financial Group LLC now owns 212 shares of the company’s stock worth $39,000 after acquiring an additional 107 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Howmet Aerospace by 208.1% during 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 last quarter. AdvisorNet Financial Inc increased its position in shares of Howmet Aerospace by 2,433.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 228 shares of the company’s stock valued at $42,000 after purchasing an additional 219 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Howmet Aerospace during the 4th quarter valued at approximately $25,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.