Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Howmet Aerospace Inc. by 14.2%, acquiring 88,312 shares to hold a total of 709,458 shares valued at approximately $92 million.
• Analysts have elevated their price targets for Howmet Aerospace, with several firms setting targets ranging from $135.00 to $210.00, reflecting strong expectations for the company's performance.
• Howmet Aerospace announced a quarterly dividend increase to $0.12 per share, up from $0.10, with a dividend yield of 0.3%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,458 shares of the company's stock after acquiring an additional 88,312 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Howmet Aerospace worth $92,038,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Howmet Aerospace by 15,741.8% during the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock valued at $1,723,040,000 after acquiring an additional 1,319,792 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Howmet Aerospace in the first quarter valued at about $147,251,000. Janus Henderson Group PLC boosted its position in Howmet Aerospace by 10.3% during the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock valued at $1,197,315,000 after purchasing an additional 1,026,130 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Howmet Aerospace during the fourth quarter valued at approximately $102,996,000. Finally, Vanguard Group Inc. increased its position in Howmet Aerospace by 1.5% during the first quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock worth $6,202,814,000 after buying an additional 695,953 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HWM shares. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $150.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. UBS Group lifted their price target on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Benchmark raised their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a report on Monday, April 21st. Barclays reissued an "overweight" rating and set a $190.00 price objective (up previously from $140.00) on shares of Howmet Aerospace in a report on Monday, August 4th. Finally, Truist Financial lifted their target price on Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $172.13.

Howmet Aerospace Stock Up 0.2%

HWM traded up $0.42 during midday trading on Tuesday, reaching $180.30. 523,983 shares of the company were exchanged, compared to its average volume of 3,048,709. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31. The company's fifty day moving average price is $179.68 and its 200 day moving average price is $151.78. The company has a market cap of $72.68 billion, a price-to-earnings ratio of 52.73, a price-to-earnings-growth ratio of 2.31 and a beta of 1.48. Howmet Aerospace Inc. has a one year low of $90.71 and a one year high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its 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. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.99 billion. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. Howmet Aerospace's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.3%. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's dividend payout ratio is currently 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.