DnB Asset Management AS lifted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 14.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 102,804 shares of the company's stock after buying an additional 12,869 shares during the quarter. DnB Asset Management AS's holdings in Howmet Aerospace were worth $3,233,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Shell Asset Management Co. increased its stake in shares of Howmet Aerospace by 30.8% during the 1st quarter. Shell Asset Management Co. now owns 1,341 shares of the company's stock worth $48,000 after purchasing an additional 316 shares during the last quarter. Brinker Capital Investments LLC grew its stake in Howmet Aerospace by 4.7% in the 1st quarter. Brinker Capital Investments LLC now owns 8,942 shares of the company's stock valued at $321,000 after buying an additional 398 shares in the last quarter. Kentucky Retirement Systems grew its stake in Howmet Aerospace by 1.8% in the 1st quarter. Kentucky Retirement Systems now owns 24,191 shares of the company's stock valued at $869,000 after buying an additional 417 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Howmet Aerospace by 1.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 24,873 shares of the company's stock valued at $894,000 after buying an additional 430 shares in the last quarter. Finally, Eaton Vance Management grew its stake in Howmet Aerospace by 7.5% in the 1st quarter. Eaton Vance Management now owns 7,025 shares of the company's stock valued at $253,000 after buying an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 90.86% of the company's stock.
Get Howmet Aerospace alerts:Howmet Aerospace Stock Up 0.2 %
Shares of NYSE:HWM opened at $34.28 on Wednesday. The firm has a fifty day moving average price of $36.01 and a two-hundred day moving average price of $34.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.15 and a quick ratio of 0.96. Howmet Aerospace Inc. has a one year low of $27.41 and a one year high of $38.99. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 38.09 and a beta of 1.58.
Howmet Aerospace (NYSE:HWM – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm earned $0.22 EPS. The business's quarterly revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that Howmet Aerospace Inc. will post 1.42 EPS for the current fiscal year.Howmet Aerospace Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Friday, August 5th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Thursday, August 4th. Howmet Aerospace's dividend payout ratio is currently 8.89%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on HWM shares. Morgan Stanley lifted their price objective on shares of Howmet Aerospace from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, September 8th. KeyCorp reduced their price objective on shares of Howmet Aerospace from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 8th. Truist Financial started coverage on shares of Howmet Aerospace in a research note on Wednesday, July 6th. They issued a "buy" rating and a $41.00 price objective for the company. Benchmark upgraded shares of Howmet Aerospace from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Friday, July 8th. Finally, Argus raised their price target on shares of Howmet Aerospace from $38.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, June 7th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average 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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