Howmet Aerospace (NYSE:HWM) Hits New 52-Week High Following Better-Than-Expected Earnings

Shares of Howmet Aerospace Inc. (NYSE:HWM) hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $129.95 and last traded at $128.11, with a volume of 3329770 shares traded. The stock had previously closed at $129.32.

The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 24.50% and a net margin of 14.81%.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio (DPR) is currently 12.21%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group boosted their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their price target on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.76.

Institutional Investors Weigh In On Howmet Aerospace

Several institutional investors and hedge funds have recently bought and sold shares of HWM. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Howmet Aerospace during the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. increased its position in Howmet Aerospace by 208.1% in the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after buying an additional 154 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Howmet Aerospace in the fourth quarter valued at $25,000. RiverPark Advisors LLC acquired a new position in shares of Howmet Aerospace during the third quarter valued at $26,000. Finally, R Squared Ltd bought a new position in shares of Howmet Aerospace during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. The stock’s fifty day moving average is $118.75 and its two-hundred day moving average is $107.74. The firm has a market cap of $54.30 billion, a price-to-earnings ratio of 51.02, a PEG ratio of 1.45 and a beta of 1.50.

Howmet Aerospace Company Profile

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.