Motley Fool Asset Management LLC Takes $2.45 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Motley Fool Asset Management LLC purchased 18,864 shares of Howmet Aerospace Inc., valued at approximately $2,447,000, indicating strong interest from institutional investors in the stock.
• Howmet Aerospace recently reported earnings of $0.91 per share, exceeding analyst expectations and showcasing a 9.2% year-over-year revenue growth.
• The company announced an increase in its quarterly dividend to $0.12 per share from $0.10, reflecting its commitment to returning value to shareholders.

Motley Fool Asset Management LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,864 shares of the company's stock, valued at approximately $2,447,000.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Howmet Aerospace by 1.5% in the first quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock valued at $6,202,814,000 after buying an additional 695,953 shares during the period. JPMorgan Chase & Co. raised its holdings in Howmet Aerospace by 21.1% in the first quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company's stock worth $3,171,970,000 after purchasing an additional 4,252,401 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Howmet Aerospace by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after purchasing an additional 80,972 shares during the period. Janus Henderson Group PLC raised its holdings in Howmet Aerospace by 10.3% in the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after purchasing an additional 1,026,130 shares during the period. Finally, Invesco Ltd. raised its holdings in Howmet Aerospace by 8.3% in the first quarter. Invesco Ltd. now owns 7,315,238 shares of the company's stock worth $949,006,000 after purchasing an additional 563,109 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on HWM. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. UBS Group increased their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Howmet Aerospace from $150.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. BTIG Research set a $205.00 price objective on shares of Howmet Aerospace and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Bank of America raised their price objective on shares of Howmet Aerospace from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Stock Down 2.3%

Howmet Aerospace stock traded down $4.18 during mid-day trading on Wednesday, reaching $176.72. The company's stock had a trading volume of 3,174,023 shares, compared to its average volume of 2,811,876. The company has a market capitalization of $71.24 billion, a price-to-earnings ratio of 51.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.48. Howmet Aerospace Inc. has a 12 month low of $90.71 and a 12 month high of $193.26. The business's 50 day simple moving average is $179.89 and its 200 day simple moving average is $152.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the firm posted $0.67 EPS. The company's quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a $0.12 dividend. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 8th. 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%.

About Howmet Aerospace

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.