Howmet Aerospace Inc. $HWM Shares Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Howmet Aerospace stake by 587.3% in the third quarter, ending the period with 9,175 shares valued at about $2.1 million. Institutional investors collectively own 90.46% of the company.
• Howmet reported quarterly EPS of $1.46, above the $1.37 consensus estimate, while revenue rose 29.4% year over year to $2.70 billion.
• Analyst sentiment remains a Moderate Buy, with an average price target of $295.81; the stock opened at $205.79 and has traded between $183.52 and $310 over the past year.

CenterBook Partners LP grew its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 587.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,175 shares of the company's stock after buying an additional 7,840 shares during the quarter. CenterBook Partners LP's holdings in Howmet Aerospace were worth $2,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HWM. Calamos Wealth Management LLC bought a new position in Howmet Aerospace in the third quarter valued at $237,000. Burke & Herbert Bank & Trust Co. lifted its stake in Howmet Aerospace by 4.0% during the third quarter. Burke & Herbert Bank & Trust Co. now owns 1,702 shares of the company's stock worth $385,000 after purchasing an additional 65 shares during the last quarter. Alta Advisers Ltd lifted its stake in Howmet Aerospace by 76.3% during the third quarter. Alta Advisers Ltd now owns 2,828 shares of the company's stock worth $640,000 after purchasing an additional 1,224 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Howmet Aerospace by 11.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 64,234 shares of the company's stock worth $14,528,000 after purchasing an additional 6,677 shares in the last quarter. Finally, REAP Financial Group LLC boosted its holdings in shares of Howmet Aerospace by 19.3% in the 3rd quarter. REAP Financial Group LLC now owns 365 shares of the company's stock worth $83,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.

Analyst Ratings Changes

HWM has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and set a $335.00 price objective on shares of Howmet Aerospace in a research report on Monday, August 10th. Zacks Research downgraded Howmet Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 9th. Wells Fargo & Company dropped their target price on Howmet Aerospace from $315.00 to $255.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $310.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Finally, Jefferies Financial Group reduced their price target on shares of Howmet Aerospace from $370.00 to $350.00 and set a "buy" rating on the stock in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $295.81.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $205.79 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $81.83 billion, a PE ratio of 40.27, a PEG ratio of 1.50 and a beta of 1.31. The company's fifty day moving average is $223.40 and its 200 day moving average is $248.22. Howmet Aerospace Inc. has a 52 week low of $183.52 and a 52 week high of $310.00.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The company's revenue was up 29.4% on a year-over-year basis. Research analysts anticipate that Howmet Aerospace Inc. will post 5.49 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. Howmet Aerospace's payout ratio is currently 10.96%.

About Howmet Aerospace

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks.

The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.

Howmet Aerospace became an independent company in 2020 following its separation from Arconic.

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