Promus Capital LLC Takes $149,000 Position in Howmet Aerospace Inc. (NYSE:HWM)

Promus Capital LLC bought a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,363 shares of the company’s stock, valued at approximately $149,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System boosted its holdings in Howmet Aerospace by 1.4% in the 4th quarter. Arizona State Retirement System now owns 112,600 shares of the company’s stock worth $12,315,000 after buying an additional 1,504 shares during the period. Proficio Capital Partners LLC bought a new position in Howmet Aerospace in the 4th quarter worth approximately $223,000. M&T Bank Corp boosted its holdings in Howmet Aerospace by 5.9% in the 4th quarter. M&T Bank Corp now owns 33,577 shares of the company’s stock worth $3,672,000 after buying an additional 1,882 shares during the period. Atria Investments Inc boosted its holdings in Howmet Aerospace by 4.0% in the 4th quarter. Atria Investments Inc now owns 27,058 shares of the company’s stock worth $2,959,000 after buying an additional 1,037 shares during the period. Finally, Assetmark Inc. boosted its holdings in Howmet Aerospace by 69.4% in the 4th quarter. Assetmark Inc. now owns 747 shares of the company’s stock worth $82,000 after buying an additional 306 shares during the period. 90.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays raised their price objective on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Susquehanna raised their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $130.38 on Thursday. The stock has a market cap of $52.81 billion, a PE ratio of 46.23, a PEG ratio of 1.92 and a beta of 1.54. The company’s fifty day moving average is $124.44 and its 200 day moving average is $111.87. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio (DPR) is 14.18%.

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.