AGF Management Ltd. Decreases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• AGF Management Ltd. reduced its stake in Howmet Aerospace by 1.6%, now holding approximately 1,643,082 shares worth about $213 million.
• Howmet Aerospace recently reported a net margin of 18.09% and earnings of $0.91 per share for the last quarter, surpassing estimates by $0.04.
• The company announced an increase in its quarterly dividend from $0.10 to $0.12 per share, set to be paid on August 25th.

AGF Management Ltd. lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,643,082 shares of the company's stock after selling 27,260 shares during the quarter. Howmet Aerospace comprises about 1.1% of AGF Management Ltd.'s portfolio, making the stock its 19th largest holding. AGF Management Ltd. owned approximately 0.41% of Howmet Aerospace worth $213,157,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HWM. Public Sector Pension Investment Board lifted its holdings in shares of Howmet Aerospace by 8.1% during the 1st quarter. Public Sector Pension Investment Board now owns 57,641 shares of the company's stock worth $7,478,000 after acquiring an additional 4,316 shares during the period. AIA Group Ltd raised its position in Howmet Aerospace by 4.9% during the first quarter. AIA Group Ltd now owns 28,877 shares of the company's stock valued at $3,746,000 after purchasing an additional 1,360 shares in the last quarter. Motley Fool Asset Management LLC bought a new stake in Howmet Aerospace during the first quarter worth $2,447,000. Independent Advisor Alliance lifted its stake in Howmet Aerospace by 16.6% during the first quarter. Independent Advisor Alliance now owns 29,092 shares of the company's stock worth $3,774,000 after purchasing an additional 4,137 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Howmet Aerospace in the 1st quarter valued at $366,209,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HWM shares. Barclays reissued an "overweight" rating and set a $190.00 price target (up previously from $140.00) on shares of Howmet Aerospace in a report on Monday, August 4th. Morgan Stanley increased their target price on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Truist Financial increased their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Wells Fargo & Company lifted their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Benchmark upped their price target 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. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Howmet Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $172.13.

Howmet Aerospace Stock Down 0.4%

Howmet Aerospace stock traded down $0.63 during midday trading on Thursday, reaching $176.17. The stock had a trading volume of 2,004,037 shares, compared to its average volume of 3,047,616. 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 Inc. has a 12 month low of $90.71 and a 12 month high of $193.26. The company has a fifty day moving average price of $179.89 and a two-hundred day moving average price of $152.16. The company has a market capitalization of $71.02 billion, a P/E ratio of 51.51, a PEG ratio of 2.31 and a beta of 1.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.99 billion. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The company's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, equities analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a dividend of $0.12 per share. 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 dividend yield of 0.3%. Howmet Aerospace's payout ratio is 14.04%.

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.