T. Rowe Price Investment Management Inc. Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

T. Rowe Price Investment Management Inc. cut its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 0.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,237,110 shares of the company’s stock after selling 11,000 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Howmet Aerospace were worth $135,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Howmet Aerospace by 45.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,397 shares of the company’s stock valued at $742,000 after purchasing an additional 2,324 shares in the last quarter. Tidal Investments LLC increased its holdings in Howmet Aerospace by 60.0% during the third quarter. Tidal Investments LLC now owns 56,490 shares of the company’s stock valued at $5,663,000 after buying an additional 21,176 shares during the period. Franklin Resources Inc. raised its stake in Howmet Aerospace by 58.0% in the third quarter. Franklin Resources Inc. now owns 570,476 shares of the company’s stock worth $58,559,000 after buying an additional 209,492 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Howmet Aerospace during the third quarter worth $3,388,000. Finally, Retirement Systems of Alabama boosted its position in Howmet Aerospace by 332.6% during the 3rd quarter. Retirement Systems of Alabama now owns 370,027 shares of the company’s stock valued at $37,095,000 after acquiring an additional 284,487 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Up 2.8 %

Shares of HWM stock opened at $133.37 on Friday. Howmet Aerospace Inc. has a fifty-two week low of $63.64 and a fifty-two week high of $140.55. The firm has a market capitalization of $53.94 billion, a PE ratio of 47.29, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The stock’s 50-day simple moving average is $128.08 and its 200-day simple moving average is $119.43.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, February 13th. 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 25.74% and a net margin of 15.55%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Equities analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.30%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.18%.

Wall Street Analysts Forecast Growth

HWM has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Barclays increased their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Benchmark lifted their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley increased their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group lifted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.06.

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.