Sheets Smith Investment Management Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Sheets Smith Investment Management purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,230 shares of the company’s stock, valued at approximately $1,666,000. Howmet Aerospace comprises approximately 1.4% of Sheets Smith Investment Management’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Howmet Aerospace by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock worth $5,153,220,000 after buying an additional 352,256 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Howmet Aerospace by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company’s stock worth $1,775,578,000 after buying an additional 1,336,592 shares during the last quarter. State Street Corp grew its holdings in shares of Howmet Aerospace by 2.3% during the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after buying an additional 384,171 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Howmet Aerospace by 5.0% during the third quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock worth $949,382,000 after buying an additional 453,275 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Howmet Aerospace by 6.4% during the fourth quarter. Boston Partners now owns 5,460,744 shares of the company’s stock worth $597,460,000 after buying an additional 326,719 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Barclays raised their price objective 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. Finally, Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.28.

Howmet Aerospace Trading Down 0.7 %

Shares of Howmet Aerospace stock opened at $130.70 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. Howmet Aerospace Inc. has a 1 year low of $62.80 and a 1 year high of $140.55. The company has a market capitalization of $52.94 billion, a P/E ratio of 46.35, a P/E/G ratio of 1.92 and a beta of 1.54. The business has a 50 day moving average price of $128.09 and a 200 day moving average price of $114.61.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.88 billion. Sell-side analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were given a dividend of $0.10 per share. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s payout ratio is currently 14.18%.

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.