Howmet Aerospace (NYSE:HWM) Hits New 12-Month High at $98.29

Howmet Aerospace Inc. (NYSE:HWM)’s share price reached a new 52-week high on Friday . The company traded as high as $98.29 and last traded at $98.06, with a volume of 1038540 shares trading hands. The stock had previously closed at $97.43.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HWM. Barclays raised their price objective on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. KeyCorp boosted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial upped their target price on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Trading Up 0.0 %

The firm has a market cap of $39.77 billion, a P/E ratio of 47.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The firm has a fifty day simple moving average of $90.95 and a 200-day simple moving average of $80.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.08 dividend. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Insider Activity at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds have recently made changes to their positions in the business. Cultivar Capital Inc. bought a new position in Howmet Aerospace in the second quarter worth $26,000. LGT Financial Advisors LLC boosted its stake in Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after acquiring an additional 262 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Howmet Aerospace during the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its position in shares of Howmet Aerospace by 1,209.1% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Howmet Aerospace during the 2nd quarter valued at approximately $36,000. 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.