Donoghue Forlines LLC Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Donoghue Forlines LLC acquired 17,599 shares of Howmet Aerospace Inc. (NYSE:HWM), valued at approximately $2.28 million, during the first quarter of the fiscal year.
• Howmet Aerospace reported a quarterly EPS of $0.91, surpassing expectations, with a year-over-year revenue increase of 9.2% to reach $2.05 billion.
• The company announced an increase in its quarterly dividend to $0.12 per share, with the ex-dividend date set for August 8th.

Donoghue Forlines LLC acquired a new position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,599 shares of the company's stock, valued at approximately $2,283,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Howmet Aerospace by 1.5% in the first quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock worth $6,202,814,000 after buying an additional 695,953 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Howmet Aerospace by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after buying an additional 80,972 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Howmet Aerospace by 10.3% in the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after buying an additional 1,026,130 shares in the last quarter. Capital World Investors lifted its stake in shares of Howmet Aerospace by 13.3% in the fourth quarter. Capital World Investors now owns 4,855,273 shares of the company's stock worth $531,021,000 after buying an additional 570,567 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Howmet Aerospace by 10.5% in the fourth quarter. Northern Trust Corp now owns 3,676,908 shares of the company's stock worth $402,143,000 after buying an additional 349,384 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HWM. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research note on Monday, June 30th. Benchmark increased their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Truist Financial increased their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Wall Street Zen upgraded shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, UBS Group increased their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Stock Performance

HWM traded up $0.97 during trading on Tuesday, hitting $180.85. The company's stock had a trading volume of 1,256,110 shares, compared to its average volume of 3,053,645. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. Howmet Aerospace Inc. has a one year low of $90.71 and a one year high of $193.26. The firm has a market cap of $72.91 billion, a PE ratio of 52.88, a P/E/G ratio of 2.31 and a beta of 1.48. The business's 50 day simple moving average is $179.68 and its 200-day simple moving average is $151.78.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The company's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 8th. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's payout ratio is 14.04%.

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.