Principal Financial Group Inc. boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 474,557 shares of the company’s stock after purchasing an additional 6,585 shares during the period. Principal Financial Group Inc.’s holdings in Howmet Aerospace were worth $14,925,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Qtron Investments LLC bought a new position in shares of Howmet Aerospace in the 2nd quarter worth approximately $767,000. Mitsubishi UFJ Trust & Banking Corp raised its position in Howmet Aerospace by 3.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 218,499 shares of the company’s stock worth $6,872,000 after acquiring an additional 8,293 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Howmet Aerospace during the 2nd quarter worth $87,000. Lazard Asset Management LLC grew its position in shares of Howmet Aerospace by 84.5% during the 2nd quarter. Lazard Asset Management LLC now owns 14,475 shares of the company’s stock valued at $455,000 after acquiring an additional 6,631 shares during the period. Finally, Walleye Capital LLC increased its stake in shares of Howmet Aerospace by 351.7% in the 2nd quarter. Walleye Capital LLC now owns 136,561 shares of the company’s stock worth $4,295,000 after purchasing an additional 106,331 shares in the last quarter. Institutional investors own 90.86% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on HWM. Vertical Research lowered their target price on Howmet Aerospace to $45.00 in a research report on Friday, November 4th. KeyCorp boosted their price objective on Howmet Aerospace from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, November 1st. Truist Financial increased their target price on shares of Howmet Aerospace to $32.00 in a report on Friday, November 4th. Wolfe Research reaffirmed an “outperform” rating and set a $44.00 price target on shares of Howmet Aerospace in a report on Tuesday, October 11th. Finally, Bank of America began coverage on shares of Howmet Aerospace in a research note on Monday, October 10th. They issued a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.
Howmet Aerospace Trading Down 0.5 %
Howmet Aerospace (NYSE:HWM – Get Rating) last posted its earnings results on Monday, October 31st. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Howmet Aerospace had a net margin of 8.00% and a return on equity of 16.76%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the company posted $0.27 earnings per share. Howmet Aerospace’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Howmet Aerospace Inc. will post 1.4 earnings per share for the current fiscal year.
Howmet Aerospace Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be given a $0.04 dividend. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.02. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Thursday, November 3rd. Howmet Aerospace’s payout ratio is currently 15.53%.
About Howmet Aerospace
Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.
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