Howmet Aerospace Inc. (NYSE:HWM) Announces $0.08 Quarterly Dividend

Howmet Aerospace Inc. (NYSE:HWM) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.08 per share on Monday, November 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, November 8th.

Howmet Aerospace has increased its dividend by an average of 104.1% annually over the last three years. Howmet Aerospace has a dividend payout ratio of 10.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Howmet Aerospace to earn $3.16 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.1%.

Howmet Aerospace Stock Performance

NYSE HWM opened at $99.30 on Friday. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $100.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The company has a market capitalization of $40.53 billion, a P/E ratio of 47.97, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a fifty day moving average of $92.91 and a 200-day moving average of $81.22.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. As a group, equities research analysts predict that Howmet Aerospace will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on HWM. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Benchmark lifted their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Barclays lifted their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Northcoast Research reiterated a “sell” rating and issued a $70.00 target price on shares of Howmet Aerospace in a research report on Friday, June 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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 approximately $14,982,938.30. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

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.