Maryland State Retirement & Pension System Purchases 2,810 Shares of Howmet Aerospace Inc. $HWM

Maryland State Retirement & Pension System lifted its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 13.1% during the third quarter, HoldingsChannel reports. The firm owned 24,190 shares of the company’s stock after purchasing an additional 2,810 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Howmet Aerospace were worth $5,471,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HWM. BlackRock Inc. acquired a new stake in Howmet Aerospace during the 2nd quarter valued at $12,318,939,000. State Street Corp lifted its holdings in Howmet Aerospace by 3.3% in the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after buying an additional 612,866 shares in the last quarter. Bank of America Corp DE acquired a new position in Howmet Aerospace in the 2nd quarter worth $2,766,806,000. Jupiter Topco LLC acquired a new position in Howmet Aerospace in the 2nd quarter worth $2,065,086,000. Finally, Bank of New York Mellon Corp purchased a new position in Howmet Aerospace in the 2nd quarter valued at about $1,099,765,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Stock Down 0.4%

Shares of NYSE:HWM opened at $223.02 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $220.68 and a 200 day simple moving average of $248.26. The firm has a market cap of $88.69 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31. Howmet Aerospace Inc. has a 12-month low of $183.52 and a 12-month high of $310.00.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter last year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts anticipate that Howmet Aerospace Inc. will post 5.49 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a yield of 0.3%. Howmet Aerospace’s dividend payout ratio is presently 10.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Susquehanna lowered their target price on Howmet Aerospace from $340.00 to $275.00 and set a “positive” rating for the company in a research note on Friday, October 30th. Deutsche Bank lifted their target price on Howmet Aerospace from $338.00 to $343.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Guggenheim initiated coverage on Howmet Aerospace in a research note on Monday, September 14th. They issued a “buy” rating and a $350.00 price target on the stock. UBS Group reduced their price target on Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Finally, Jefferies Financial Group lowered their price objective on Howmet Aerospace from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $295.81.

Howmet Aerospace Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.