Howmet Aerospace Inc. $HWM Stock: Candriam S.C.A. Raises Stake

Candriam S.C.A. grew its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 49.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,509 shares of the company's stock after buying an additional 20,812 shares during the quarter. Candriam S.C.A.'s holdings in Howmet Aerospace were worth $14,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HWM. J. Derek Lewis & Associates Inc. lifted its position in Howmet Aerospace by 5.4% in the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 1,055 shares of the company's stock valued at $239,000 after acquiring an additional 54 shares in the last quarter. StoneX Group Inc. raised its stake in shares of Howmet Aerospace by 121.4% in the third quarter. StoneX Group Inc. now owns 2,540 shares of the company's stock worth $587,000 after purchasing an additional 1,393 shares during the last quarter. Verus Capital Partners LLC raised its stake in shares of Howmet Aerospace by 5.1% in the third quarter. Verus Capital Partners LLC now owns 1,123 shares of the company's stock worth $254,000 after purchasing an additional 55 shares during the last quarter. Abacus Wealth Partners LLC raised its stake in shares of Howmet Aerospace by 6.1% in the third quarter. Abacus Wealth Partners LLC now owns 987 shares of the company's stock worth $223,000 after purchasing an additional 57 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Howmet Aerospace by 8.9% during the third quarter. Alps Advisors Inc. now owns 7,104 shares of the company's stock valued at $1,607,000 after purchasing an additional 578 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Zacks Research cut Howmet Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 9th. Wells Fargo & Company decreased 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. Susquehanna decreased their target price on Howmet Aerospace from $340.00 to $275.00 and set a "positive" rating for the company in a research report on Friday, October 30th. Jefferies Financial Group lowered their target price on shares of Howmet Aerospace from $370.00 to $350.00 and set a "buy" rating on the stock in a research note on Monday, November 2nd. Finally, TD Cowen lowered their target price on shares of Howmet Aerospace from $320.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $295.81.

Howmet Aerospace Stock Performance

HWM opened at $216.28 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. The company has a market cap of $86.01 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 1.56 and a beta of 1.31. The company's 50 day moving average is $222.43 and its 200 day moving average is $248.18. Howmet Aerospace Inc. has a 12-month low of $183.52 and a 12-month high of $310.00.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.59 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm's revenue was up 29.4% on a year-over-year basis. On average, equities research analysts predict that Howmet Aerospace Inc. will post 5.49 EPS for the current year.

Howmet Aerospace Dividend Announcement

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 paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, November 6th. Howmet Aerospace's dividend payout ratio is 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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