Cynosure Group LLC Purchases 2,613 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Cynosure Group LLC significantly increased its stake in Howmet Aerospace by 95.6%, acquiring an additional 2,613 shares, bringing its total holdings to 5,345 shares worth approximately $693,000.
• Howmet Aerospace reported a quarterly earnings per share (EPS) of $0.91, surpassing expectations and indicating a year-over-year revenue growth of 9.2%.
• The company also announced a dividend increase, raising its quarterly payment to $0.12 per share, reflecting a commitment to returning value to shareholders.

Cynosure Group LLC increased its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 95.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,345 shares of the company's stock after acquiring an additional 2,613 shares during the period. Cynosure Group LLC's holdings in Howmet Aerospace were worth $693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 valued at $6,202,814,000 after acquiring an additional 695,953 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $1,445,210,000 after acquiring an additional 80,972 shares in the last quarter. Janus Henderson Group PLC boosted its holdings 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 valued at $1,197,315,000 after acquiring an additional 1,026,130 shares in the last quarter. Capital World Investors boosted its holdings 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 valued at $531,021,000 after acquiring an additional 570,567 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings 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 valued at $402,143,000 after acquiring an additional 349,384 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

HWM stock traded down $5.96 during trading on Wednesday, hitting $174.94. 1,901,481 shares of the stock traded hands, compared to its average volume of 3,045,840. Howmet Aerospace Inc. has a one year low of $90.71 and a one year high of $193.26. The stock has a market cap of $70.52 billion, a price-to-earnings ratio of 51.18, a P/E/G ratio of 2.30 and a beta of 1.48. The company has a 50 day simple moving average of $179.84 and a 200 day simple moving average of $151.99. The company has a current ratio of 2.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65.

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

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 8th. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. Howmet Aerospace's payout ratio is presently 14.04%.

Analyst Upgrades and Downgrades

HWM has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Susquehanna increased their target price on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research note on Monday, July 14th. BTIG Research set a $205.00 target price on shares of Howmet Aerospace and gave the company a "buy" rating in a research note on Monday, August 4th. UBS Group increased their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $172.13.

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.