Maryland State Retirement & Pension System Has $2.46 Million Stake in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• The Maryland State Retirement & Pension System has decreased its holdings in Howmet Aerospace Inc. by 12.5%, now owning 18,941 shares valued at approximately $2.46 million.
• The company reported a quarterly earnings per share of $0.91, exceeding analysts' estimates, and revenue of $2.05 billion, marking a 9.2% year-over-year increase.
• Howmet Aerospace has raised its quarterly dividend from $0.10 to $0.12, leading to an annualized dividend of $0.48 and a yield of 0.3%.

Maryland State Retirement & Pension System decreased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,941 shares of the company's stock after selling 2,695 shares during the period. Maryland State Retirement & Pension System's holdings in Howmet Aerospace were worth $2,457,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in Howmet Aerospace during the fourth quarter worth about $25,000. Kapitalo Investimentos Ltda acquired a new stake in Howmet Aerospace during the fourth quarter worth about $30,000. Hemington Wealth Management raised its stake in Howmet Aerospace by 46.6% during the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock worth $33,000 after acquiring an additional 81 shares during the period. GPS Wealth Strategies Group LLC raised its stake in Howmet Aerospace by 114.6% during the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after acquiring an additional 141 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in Howmet Aerospace by 100.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 279 shares of the company's stock worth $36,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 90.46% of the company's stock.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock traded down $6.32 during trading on Wednesday, hitting $174.59. The stock had a trading volume of 1,595,420 shares, compared to its average volume of 3,043,124. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08. The firm has a market cap of $70.38 billion, a P/E ratio of 51.15, a PEG ratio of 2.30 and a beta of 1.48. The business has a fifty day moving average of $179.84 and a two-hundred day moving average of $151.99. Howmet Aerospace Inc. has a fifty-two week low of $90.71 and a fifty-two week high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued 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. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.99 billion. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, August 8th. This is a positive change 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 14.04%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HWM shares. Vertical Research reiterated a "buy" rating on shares of Howmet Aerospace in a research note on Thursday, July 31st. BTIG Research set a $205.00 price target on shares of Howmet Aerospace and gave the company a "buy" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. 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. Finally, Barclays restated an "overweight" rating and issued a $190.00 price target (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday, August 4th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.