Verition Fund Management LLC lifted its position in Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 113.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,636 shares of the company's stock after buying an additional 37,564 shares during the quarter. Verition Fund Management LLC's holdings in Howmet Aerospace were worth $2,539,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Walleye Capital LLC lifted its holdings in shares of Howmet Aerospace by 11.5% in the first quarter. Walleye Capital LLC now owns 30,230 shares of the company's stock worth $1,086,000 after buying an additional 3,113 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Howmet Aerospace by 12.9% in the first quarter. Neuberger Berman Group LLC now owns 23,586 shares of the company's stock valued at $847,000 after purchasing an additional 2,687 shares in the last quarter. Worldquant Millennium Advisors LLC raised its stake in Howmet Aerospace by 21.5% in the first quarter. Worldquant Millennium Advisors LLC now owns 213,647 shares of the company's stock valued at $7,678,000 after purchasing an additional 37,827 shares in the last quarter. Weiss Multi Strategy Advisers LLC raised its stake in Howmet Aerospace by 15.5% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 166,286 shares of the company's stock valued at $5,976,000 after purchasing an additional 22,322 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Howmet Aerospace by 7.2% in the first quarter. Advisors Asset Management Inc. now owns 102,465 shares of the company's stock valued at $3,683,000 after purchasing an additional 6,859 shares in the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.
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Shares of Howmet Aerospace stock opened at $33.61 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.96 and a current ratio of 2.15. Howmet Aerospace Inc. has a 52-week low of $27.41 and a 52-week high of $38.99. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 37.34 and a beta of 1.58. The company's 50 day moving average price is $35.97 and its 200-day moving average price is $34.90.
Howmet Aerospace (NYSE:HWM – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Howmet Aerospace had a net margin of 7.23% and a return on equity of 15.45%. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business earned $0.22 earnings per share. The business's revenue was up 16.6% on a year-over-year basis. Equities research analysts forecast that Howmet Aerospace Inc. will post 1.42 EPS for the current year.Howmet Aerospace Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Friday, August 5th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, August 4th. Howmet Aerospace's dividend payout ratio is 8.89%.
Analyst Ratings Changes
A number of brokerages recently weighed in on HWM. Argus raised their target price on shares of Howmet Aerospace from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, June 7th. Benchmark raised shares of Howmet Aerospace from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Friday, July 8th. KeyCorp decreased their price target on shares of Howmet Aerospace from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 8th. Morgan Stanley lifted their price target on shares of Howmet Aerospace from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, September 8th. Finally, Truist Financial initiated coverage on shares of Howmet Aerospace in a research note on Wednesday, July 6th. They set a "buy" rating and a $41.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $40.86.
Howmet Aerospace Profile
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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.
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