Cladis Investment Advisory LLC Buys New Shares in Howmet Aerospace Inc. $HWM

Cladis Investment Advisory LLC acquired a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,666 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Howmet Aerospace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company’s stock worth $6,202,814,000 after purchasing an additional 695,953 shares in the last quarter. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 21.1% during the 1st quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company’s stock worth $3,171,970,000 after purchasing an additional 4,252,401 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Howmet Aerospace by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company’s stock worth $1,445,210,000 after purchasing an additional 80,972 shares in the last quarter. Janus Henderson Group PLC grew its position in Howmet Aerospace by 10.3% during the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company’s stock worth $1,197,315,000 after purchasing an additional 1,026,130 shares in the last quarter. Finally, Invesco Ltd. grew its position in Howmet Aerospace by 8.3% during the 1st quarter. Invesco Ltd. now owns 7,315,238 shares of the company’s stock worth $949,006,000 after purchasing an additional 563,109 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Down 2.9%

HWM opened at $170.95 on Monday. The company’s 50 day moving average is $179.83 and its 200-day moving average is $153.20. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26. The company has a current ratio of 2.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65. The company has a market cap of $68.92 billion, a P/E ratio of 49.99, a PEG ratio of 2.22 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business earned $0.67 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.10. Howmet Aerospace’s payout ratio is presently 14.04%.

Analyst Ratings Changes

Several research firms have weighed in on HWM. Truist Financial upped their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $150.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. BTIG Research set a $205.00 price objective on shares of Howmet Aerospace and gave the company a “buy” rating in a research note on Monday, August 4th. Finally, Vertical Research restated a “buy” rating on shares of Howmet Aerospace in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $172.13.

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.