Howmet Aerospace Inc. (NYSE:HWM) Plans Quarterly Dividend of $0.08

Howmet Aerospace Inc. (NYSE:HWM) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.08 per share on Monday, November 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, November 8th.

Howmet Aerospace has increased its dividend payment by an average of 104.1% per year over the last three years. Howmet Aerospace has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Howmet Aerospace to earn $3.11 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.3%.

Howmet Aerospace Stock Up 2.3 %

Shares of NYSE:HWM opened at $102.16 on Wednesday. The company has a market capitalization of $41.70 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a 52-week low of $47.88 and a 52-week high of $106.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The company has a fifty day moving average of $99.39 and a 200-day moving average of $88.58.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HWM. Barclays upped their price objective on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Sanford C. Bernstein increased their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Royal Bank of Canada raised their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial increased their price target on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.50.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on 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 owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on 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 directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

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.