Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High at $100.62

Howmet Aerospace Inc. (NYSE:HWM)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $100.62 and last traded at $100.01, with a volume of 82747 shares changing hands. The stock had previously closed at $99.72.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BTIG Research lifted their target price on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial upped their price target on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Northcoast Research reissued a “sell” rating and set a $70.00 price objective on shares of Howmet Aerospace in a report on Friday, June 14th. Finally, Robert W. Baird upped their target price on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $90.67.

Howmet Aerospace Stock Performance

The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $92.50 and a 200-day simple moving average of $81.10. The company has a market capitalization of $40.79 billion, a P/E ratio of 48.17, a PEG ratio of 1.47 and a beta of 1.46.

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

Howmet Aerospace Increases Dividend

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Howmet Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the company. Cultivar Capital Inc. acquired a new stake in Howmet Aerospace in the second quarter worth about $26,000. LGT Financial Advisors LLC raised its stake in shares of 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 buying an additional 262 shares during the last quarter. Rothschild Investment LLC acquired a new position in Howmet Aerospace in the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its stake in Howmet Aerospace by 1,209.1% in the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after acquiring an additional 399 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Howmet Aerospace during the 2nd quarter worth $36,000. Institutional investors own 90.46% of the company’s stock.

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.