Howmet Aerospace (NYSE:HWM) Hits New 1-Year High Following Earnings Beat

Howmet Aerospace Inc. (NYSE:HWM) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $129.95 and last traded at $128.11, with a volume of 3329770 shares. The stock had previously closed at $129.32.

The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is 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 12.21%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America lifted their price target on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Susquehanna lifted their price target on Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research report on Thursday, November 7th. KeyCorp lowered Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.76.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of HWM. Stifel Financial Corp raised its holdings in shares of Howmet Aerospace by 12.1% in the third quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock worth $26,450,000 after acquiring an additional 28,568 shares during the last quarter. Vista Investment Partners LLC acquired a new position in Howmet Aerospace in the fourth quarter valued at $531,000. Genesis Private Wealth LLC acquired a new position in Howmet Aerospace in the fourth quarter valued at $249,000. Oppenheimer & Co. Inc. increased its stake in Howmet Aerospace by 135.9% in the third quarter. Oppenheimer & Co. Inc. now owns 26,159 shares of the company’s stock valued at $2,622,000 after purchasing an additional 15,070 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Howmet Aerospace in the fourth quarter valued at $289,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

The stock has a market capitalization of $54.30 billion, a price-to-earnings ratio of 51.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.50. The company has a 50 day moving average of $118.75 and a 200 day moving average of $107.74. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76.

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.