Zacks Investment Management Reduces Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Zacks Investment Management lowered its stake in Howmet Aerospace Inc. (NYSE:HWM) by 6.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168,910 shares of the company’s stock after selling 11,844 shares during the quarter. Zacks Investment Management’s holdings in Howmet Aerospace were worth $18,474,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in HWM. Murphy & Mullick Capital Management Corp acquired a new position in Howmet Aerospace in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. boosted its position in Howmet Aerospace by 208.1% during the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Howmet Aerospace in the 4th quarter worth approximately $25,000. R Squared Ltd acquired a new position in Howmet Aerospace in the 4th quarter valued at $26,000. Finally, Washington Trust Advisors Inc. purchased a new position in shares of Howmet Aerospace during the 4th quarter worth $29,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Stock Down 0.4 %

Shares of NYSE HWM opened at $124.03 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. Howmet Aerospace Inc. has a 1 year low of $62.80 and a 1 year high of $140.55. The stock’s 50-day simple moving average is $128.63 and its 200-day simple moving average is $118.43. The firm has a market cap of $50.24 billion, a price-to-earnings ratio of 43.98, a PEG ratio of 1.92 and a beta of 1.25.

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

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HWM shares. Northcoast Research upgraded shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $118.00 target price (down previously from $132.00) on shares of Howmet Aerospace in a report on Tuesday. Truist Financial restated a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. Finally, Morgan Stanley raised their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.50.

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.