Howmet Aerospace (NYSE:HWM) Reaches New 52-Week High Following Strong Earnings

Howmet Aerospace Inc. (NYSE:HWM)’s stock price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $77.88 and last traded at $77.01, with a volume of 1610642 shares changing hands. The stock had previously closed at $66.78.

The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Howmet Aerospace’s payout ratio is 10.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird lifted their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday. Barclays boosted their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Truist Financial raised their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.77.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

A number of large investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC lifted its position in shares of Howmet Aerospace by 61.3% in the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after acquiring an additional 212 shares in the last quarter. Headinvest LLC acquired a new stake in shares of Howmet Aerospace during the 3rd quarter worth about $30,000. Whittier Trust Co. boosted its stake in shares of Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Howmet Aerospace by 34.4% during the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock worth $48,000 after buying an additional 229 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Howmet Aerospace by 62.9% in the fourth quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after buying an additional 377 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 2.3 %

The firm’s 50 day moving average is $66.44 and its 200-day moving average is $57.73. The firm has a market cap of $32.21 billion, a PE ratio of 43.10, a P/E/G ratio of 1.74 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

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.