Howmet Aerospace (NYSE:HWM) Hits New 12-Month High – Still a Buy?

Howmet Aerospace Inc. (NYSE:HWM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $104.24 and last traded at $103.66, with a volume of 78275 shares. The stock had previously closed at $102.83.

Analysts Set New Price Targets

Several brokerages have issued reports on HWM. Northcoast Research reiterated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. Benchmark increased their price target on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Barclays increased their price target on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Truist Financial increased their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Susquehanna started coverage on Howmet Aerospace in a report on Tuesday. They set a “positive” rating and a $120.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.63.

Howmet Aerospace Price Performance

The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market cap of $42.10 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The stock has a 50 day simple moving average of $95.69 and a 200-day simple moving average of $83.14.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Equities analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.31%. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Howmet Aerospace

A number of large investors have recently bought and sold shares of HWM. Tower Research Capital LLC TRC raised its stake in Howmet Aerospace by 102.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 42,237 shares of the company’s stock worth $2,286,000 after buying an additional 21,381 shares in the last quarter. Schroder Investment Management Group raised its stake in Howmet Aerospace by 5.0% in the fourth quarter. Schroder Investment Management Group now owns 266,890 shares of the company’s stock worth $14,444,000 after buying an additional 12,718 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Howmet Aerospace by 303.8% in the fourth quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock worth $1,279,000 after purchasing an additional 17,777 shares during the last quarter. Elo Mutual Pension Insurance Co grew its holdings in Howmet Aerospace by 4.3% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 34,189 shares of the company’s stock worth $1,850,000 after purchasing an additional 1,412 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in Howmet Aerospace by 28.8% in the fourth quarter. State of Tennessee Treasury Department now owns 491,483 shares of the company’s stock worth $26,599,000 after purchasing an additional 110,027 shares during 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.