Howmet Aerospace Inc. (NYSE:HWM) Stock Position Boosted by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 51.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,670 shares of the company’s stock after buying an additional 39,340 shares during the period. Cumberland Partners Ltd’s holdings in Howmet Aerospace were worth $6,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in Howmet Aerospace in the 4th quarter valued at about $183,000. CWM LLC boosted its holdings in Howmet Aerospace by 3.6% during the fourth quarter. CWM LLC now owns 8,666 shares of the company’s stock worth $469,000 after buying an additional 299 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Howmet Aerospace by 0.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,869 shares of the company’s stock worth $2,645,000 after buying an additional 247 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Howmet Aerospace by 34.4% in the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after buying an additional 229 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Howmet Aerospace by 84.7% during the fourth quarter. abrdn plc now owns 181,171 shares of the company’s stock valued at $9,805,000 after purchasing an additional 83,061 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of HWM stock traded up $1.84 during mid-day trading on Tuesday, reaching $64.77. The stock had a trading volume of 3,002,418 shares, compared to its average volume of 3,339,666. The firm’s 50 day simple moving average is $65.84 and its 200 day simple moving average is $56.83. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. Howmet Aerospace Inc. has a one year low of $42.17 and a one year high of $69.55. The firm has a market cap of $26.45 billion, a PE ratio of 35.39, a P/E/G ratio of 1.65 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. On average, analysts forecast that Howmet Aerospace Inc. will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.31%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 10.93%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial raised Howmet Aerospace from a “hold” rating to a “buy” rating and upped their target price for the company from $47.00 to $74.00 in a report on Wednesday, January 10th. Sanford C. Bernstein initiated coverage on Howmet Aerospace in a report on Friday, January 5th. They set an “outperform” rating and a $67.00 target price for the company. Robert W. Baird increased their price objective on Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. The Goldman Sachs Group increased their price objective on Howmet Aerospace from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada initiated coverage on Howmet Aerospace in a research report on Monday, March 18th. They issued an “outperform” rating and a $75.00 target price on the stock. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

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.