Bridgefront Capital LLC Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Bridgefront Capital LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,168 shares of the company's stock, valued at approximately $565,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HWM. Captrust Financial Advisors lifted its stake in shares of Howmet Aerospace by 13.3% during the 4th quarter. Captrust Financial Advisors now owns 26,956 shares of the company's stock worth $2,948,000 after buying an additional 3,154 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Howmet Aerospace in the fourth quarter valued at approximately $2,560,000. BW Gestao de Investimentos Ltda. bought a new position in shares of Howmet Aerospace during the fourth quarter worth approximately $4,139,000. Baird Financial Group Inc. lifted its holdings in Howmet Aerospace by 105.5% during the 4th quarter. Baird Financial Group Inc. now owns 33,886 shares of the company's stock worth $3,706,000 after purchasing an additional 17,397 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in Howmet Aerospace in the 4th quarter valued at $4,249,000. 90.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HWM shares. JPMorgan Chase & Co. boosted their target price 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. Truist Financial reduced their price target on shares of Howmet Aerospace from $140.00 to $136.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Benchmark upped their target price on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Finally, Royal Bank of Canada lifted their price target on shares of Howmet Aerospace from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $132.53.

Insiders Place Their Bets

In other news, VP Barbara Lou Shultz sold 1,250 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the transaction, the vice president now owns 23,044 shares in the company, valued at approximately $3,575,737.48. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.04% of the stock is currently owned by insiders.

Howmet Aerospace Price Performance

Shares of HWM traded down $0.10 during trading hours on Friday, reaching $157.40. 2,232,450 shares of the company's stock traded hands, compared to its average volume of 2,669,977. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The firm's 50 day simple moving average is $131.46 and its 200-day simple moving average is $122.94. The stock has a market cap of $63.54 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. Howmet Aerospace Inc. has a 12 month low of $76.83 and a 12 month high of $159.04.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is presently 13.03%.

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.