Howmet Aerospace (NYSE:HWM) Hits New 1-Year High – Still a Buy?

Howmet Aerospace Inc. (NYSE:HWM) reached a new 52-week high on Wednesday . The stock traded as high as $105.25 and last traded at $105.14, with a volume of 211351 shares changing hands. The stock had previously closed at $103.91.

Analyst Ratings Changes

HWM has been the subject of a number of analyst reports. Susquehanna initiated coverage on Howmet Aerospace in a research report on Tuesday, October 8th. They issued a “positive” rating and a $120.00 price target for the company. KeyCorp lifted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BTIG Research raised their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Benchmark upped their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.63.

Howmet Aerospace Price Performance

The firm has a fifty day moving average of $97.07 and a two-hundred day moving average of $84.63. The stock has a market capitalization of $42.69 billion, a P/E ratio of 50.20, a P/E/G ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74.

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

Howmet Aerospace Announces Dividend

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

Insider Activity

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

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cultivar Capital Inc. purchased a new stake in shares of Howmet Aerospace in the second quarter worth about $26,000. LGT Financial Advisors LLC raised its holdings in Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after acquiring an additional 262 shares during the last quarter. Rothschild Investment LLC purchased a new position in Howmet Aerospace during the second quarter worth approximately $32,000. Versant Capital Management Inc boosted its position in shares of Howmet Aerospace by 1,209.1% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after acquiring an additional 399 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings 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 buying an additional 228 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

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.