Assetmark Inc. Grows Stake in Howmet Aerospace Inc. (NYSE:HWM)

Assetmark Inc. grew its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 69.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 747 shares of the company’s stock after acquiring an additional 306 shares during the period. Assetmark Inc.’s holdings in Howmet Aerospace were worth $82,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Atria Investments Inc grew its stake in Howmet Aerospace by 2.7% in the third quarter. Atria Investments Inc now owns 26,021 shares of the company’s stock worth $2,609,000 after purchasing an additional 673 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Howmet Aerospace by 25.0% in the third quarter. Apollon Wealth Management LLC now owns 6,447 shares of the company’s stock worth $646,000 after purchasing an additional 1,289 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Howmet Aerospace in the third quarter worth about $201,000. Oppenheimer Asset Management Inc. grew its stake in Howmet Aerospace by 1.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 72,317 shares of the company’s stock worth $7,250,000 after purchasing an additional 737 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Howmet Aerospace by 135.9% in the third quarter. Oppenheimer & Co. Inc. now owns 26,159 shares of the company’s stock worth $2,622,000 after purchasing an additional 15,070 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $126.56 on Friday. Howmet Aerospace Inc. has a 12 month low of $62.80 and a 12 month high of $140.55. The stock has a market cap of $51.26 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.92 and a beta of 1.54. The stock’s 50 day moving average price is $126.39 and its 200 day moving average price is $113.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. Equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a $0.10 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is currently 14.18%.

Analysts Set New Price Targets

HWM has been the subject of a number of research reports. Morgan Stanley lifted their target price on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company lifted their target price on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial restated a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. Finally, Barclays lifted their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.28.

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.