Portfolio Design Labs LLC Purchases Shares of 2,459 Howmet Aerospace Inc. (NYSE:HWM)

Portfolio Design Labs LLC purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,459 shares of the company’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HWM. Exchange Traded Concepts LLC acquired a new position in Howmet Aerospace during the third quarter valued at approximately $553,000. Creative Planning boosted its position in shares of Howmet Aerospace by 14.3% in the third quarter. Creative Planning now owns 52,170 shares of the company’s stock valued at $5,230,000 after acquiring an additional 6,537 shares during the period. Sumitomo Life Insurance Co. boosted its position in shares of Howmet Aerospace by 26.7% in the third quarter. Sumitomo Life Insurance Co. now owns 15,893 shares of the company’s stock valued at $1,593,000 after acquiring an additional 3,350 shares during the period. Terra Nova Asset Management LLC bought a new stake in shares of Howmet Aerospace in the third quarter valued at approximately $1,264,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Howmet Aerospace by 5.7% in the third quarter. Vontobel Holding Ltd. now owns 3,876 shares of the company’s stock valued at $389,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

HWM has been the subject of several research reports. Barclays increased their price objective on Howmet Aerospace from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. KeyCorp cut Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Truist Financial increased their price objective on Howmet Aerospace from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird increased their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $128.11 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98. The stock has a fifty day moving average price of $118.43 and a two-hundred day moving average price of $107.45. Howmet Aerospace Inc. has a 52-week low of $58.54 and a 52-week high of $129.95. The firm has a market capitalization of $52.05 billion, a P/E ratio of 48.90, a P/E/G ratio of 1.45 and a beta of 1.50.

Howmet Aerospace Increases Dividend

The business also recently disclosed 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. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, February 7th. Howmet Aerospace’s dividend payout ratio is currently 12.21%.

Howmet Aerospace 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.