Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High at $97.57

Howmet Aerospace Inc. (NYSE:HWM) shares reached a new 52-week high during trading on Friday . The stock traded as high as $97.57 and last traded at $97.22, with a volume of 175039 shares. The stock had previously closed at $96.55.

Analyst Ratings Changes

HWM has been the subject of several analyst reports. Truist Financial increased their target price on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Robert W. Baird upped their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Argus raised their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One investment 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Howmet Aerospace Price Performance

The stock has a market cap of $39.63 billion, a P/E ratio of 46.90, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 1.53. The firm has a 50-day moving average price of $84.96 and a 200-day moving average price of $76.06.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that Howmet Aerospace Inc. will post 2.6 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.33%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is presently 15.46%.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of the 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 directly 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 accessible through the SEC website. Also, EVP Neil Edward Marchuk sold 32,614 shares of Howmet Aerospace stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the transaction, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Howmet Aerospace by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after acquiring an additional 1,274,974 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after purchasing an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Howmet Aerospace by 28.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares in the last quarter. Norges Bank bought a new position in shares of Howmet Aerospace during the fourth quarter valued at $508,006,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Howmet Aerospace by 15.1% during the first quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock valued at $423,218,000 after buying an additional 810,681 shares during the last quarter. Hedge funds and other institutional investors own 90.46% 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.