Retirement Systems of Alabama Buys 284,487 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Retirement Systems of Alabama boosted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 332.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,027 shares of the company’s stock after purchasing an additional 284,487 shares during the quarter. Retirement Systems of Alabama’s holdings in Howmet Aerospace were worth $37,095,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Senator Investment Group LP increased its stake in shares of Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after acquiring an additional 31,000 shares during the last quarter. Terra Nova Asset Management LLC bought a new stake in Howmet Aerospace in the third quarter valued at approximately $1,264,000. Stifel Financial Corp raised its holdings in 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 purchasing an additional 28,568 shares during the period. Wealthspire Advisors LLC bought a new position in shares of Howmet Aerospace during the second quarter worth $209,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Howmet Aerospace by 1,258.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after buying an additional 1,900 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HWM. Bank of America raised their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price target on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Truist Financial boosted their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays raised their target price on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada upped their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.59.

Howmet Aerospace Stock Performance

Shares of NYSE HWM opened at $113.47 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. The stock has a 50 day moving average price of $110.03 and a 200 day moving average price of $95.99. The stock has a market capitalization of $46.10 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 1.56 and a beta of 1.48. Howmet Aerospace Inc. has a 52 week low of $52.36 and a 52 week high of $120.71.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 12.21%.

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.