Howmet Aerospace (NYSE:HWM) Reaches New 52-Week High – Here’s Why

Howmet Aerospace Inc. (NYSE:HWM)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $171.70 and last traded at $170.93, with a volume of 263853 shares traded. The stock had previously closed at $169.89.

Analysts Set New Price Targets

HWM has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their target price on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. UBS Group boosted their target price on Howmet Aerospace from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Barclays lifted their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, BTIG Research restated a “buy” rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.53.

Howmet Aerospace Price Performance

The stock has a market cap of $69.37 billion, a PE ratio of 60.96, a P/E/G ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The business has a fifty day moving average of $142.16 and a 200 day moving average of $129.12.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. Howmet Aerospace’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Sell-side analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace’s dividend payout ratio is currently 13.03%.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of Howmet Aerospace stock in a transaction on Monday, May 5th. The stock was sold at an average price of $155.17, for a total transaction of $193,962.50. Following the sale, the vice president now owns 23,044 shares of the company’s stock, valued at $3,575,737.48. The trade was a 5.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the transaction, the executive vice president now owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 831,250 shares of company stock valued at $130,517,863. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of HWM. Norges Bank bought a new stake in shares of Howmet Aerospace in the 4th quarter worth $1,001,558,000. JPMorgan Chase & Co. raised its stake in shares of Howmet Aerospace by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company’s stock worth $3,171,970,000 after buying an additional 4,252,401 shares in the last quarter. Nuveen LLC bought a new stake in shares of Howmet Aerospace in the 1st quarter worth $366,209,000. Winslow Capital Management LLC bought a new stake in shares of Howmet Aerospace in the 4th quarter worth $265,844,000. Finally, GAMMA Investing LLC raised its stake in shares of Howmet Aerospace by 15,741.8% in the 1st quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company’s stock worth $1,723,040,000 after buying an additional 1,319,792 shares in the last quarter. 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.