DSM Capital Partners LLC Trims Stock Position in Howmet Aerospace Inc. $HWM

Key Points

• DSM Capital Partners LLC has reduced its stake in Howmet Aerospace Inc. by 11.8%, owning approximately 892,102 shares valued at about $115.7 million.
• The company recently reported a quarterly earnings per share of $0.91, exceeding estimates, while also announcing an increase in its quarterly dividend from $0.10 to $0.12.
• Research analysts are optimistic about Howmet Aerospace, with several firms, including Bank of America and Morgan Stanley, raising their price targets and maintaining a consensus "Moderate Buy" rating.

DSM Capital Partners LLC cut its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 892,102 shares of the company's stock after selling 119,859 shares during the period. Howmet Aerospace accounts for 2.0% of DSM Capital Partners LLC's portfolio, making the stock its 18th largest holding. DSM Capital Partners LLC owned 0.22% of Howmet Aerospace worth $115,732,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Howmet Aerospace by 21.1% during the 1st quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company's stock worth $3,171,970,000 after acquiring an additional 4,252,401 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Howmet Aerospace during the 1st quarter worth approximately $366,209,000. GAMMA Investing LLC boosted its position in shares of Howmet Aerospace by 15,741.8% during the 1st quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock worth $1,723,040,000 after acquiring an additional 1,319,792 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Howmet Aerospace during the 1st quarter worth approximately $147,251,000. Finally, Janus Henderson Group PLC boosted its position in shares of Howmet Aerospace by 10.3% during the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after acquiring an additional 1,026,130 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on HWM shares. Wall Street Zen raised shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Bank of America raised their price target on shares of Howmet Aerospace from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley raised their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Susquehanna raised their price target 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. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Howmet Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $172.13.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded up $1.73 during midday trading on Monday, hitting $172.98. The company's stock had a trading volume of 2,229,569 shares, compared to its average volume of 3,038,580. The stock has a fifty day moving average price of $179.83 and a 200 day moving average price of $153.20. Howmet Aerospace Inc. has a one year low of $90.71 and a one year high of $193.26. The company has a current ratio of 2.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $69.73 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 2.22 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company's quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts forecast 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. Investors of record on Friday, August 8th will be paid a dividend of $0.12 per share. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's dividend payout ratio is presently 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.