Howmet Aerospace’s (HWM) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Howmet Aerospace (NYSE:HWM) in a research report released on Friday, Benzinga reports. They currently have a $53.00 target price on the stock.

HWM has been the subject of several other research reports. KeyCorp upped their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research report on Wednesday, February 21st. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $65.00 to $77.00 and gave the company a buy rating in a research report on Tuesday. UBS Group upped their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Truist Financial upgraded shares of Howmet Aerospace from a hold rating to a buy rating and upped their price objective for the company from $47.00 to $74.00 in a research report on Wednesday, January 10th. Finally, Barclays upped their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Howmet Aerospace has an average rating of Moderate Buy and an average price target of $66.00.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $63.41 on Friday. The firm has a fifty day moving average of $65.71 and a two-hundred day moving average of $56.42. The stock has a market capitalization of $25.90 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 1.65 and a beta of 1.43. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $69.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.47 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities research analysts predict that Howmet Aerospace will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio is 10.93%.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of the company. Veracity Capital LLC raised its holdings in shares of Howmet Aerospace by 23.3% in the 1st quarter. Veracity Capital LLC now owns 6,902 shares of the company’s stock valued at $472,000 after purchasing an additional 1,304 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Howmet Aerospace by 16.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,421 shares of the company’s stock valued at $508,000 after purchasing an additional 1,040 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Howmet Aerospace by 7.8% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 420,354 shares of the company’s stock valued at $28,765,000 after purchasing an additional 30,240 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Howmet Aerospace by 16.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 141,223 shares of the company’s stock valued at $9,664,000 after acquiring an additional 19,431 shares during the period. Finally, Oak Thistle LLC raised its holdings in Howmet Aerospace by 8.3% in the 1st quarter. Oak Thistle LLC now owns 8,150 shares of the company’s stock valued at $558,000 after acquiring an additional 626 shares during the period. 90.46% of the stock is owned by institutional investors.

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.