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Nuveen LLC Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Howmet Aerospace logo with Aerospace background

Key Points

  • Nuveen LLC has acquired a new position in Howmet Aerospace, purchasing 2,822,855 shares worth approximately $366 million, representing about 0.70% of the company.
  • Howmet Aerospace recently increased its quarterly dividend from $0.10 to $0.12, marking a 20% boost, with a current yield of 0.3%.
  • Analysts have raised price targets for Howmet Aerospace, with UBS Group setting a target at $155 and BTIG Research at $205, reflecting positive market sentiment toward the company.
  • Looking to export and analyze Howmet Aerospace data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Nuveen LLC purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,822,855 shares of the company's stock, valued at approximately $366,209,000. Nuveen LLC owned about 0.70% of Howmet Aerospace as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Howmet Aerospace by 5.4% in the 4th quarter. Brighton Jones LLC now owns 2,548 shares of the company's stock valued at $279,000 after purchasing an additional 130 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Howmet Aerospace by 236.6% during the fourth quarter. Wellington Management Group LLP now owns 9,816 shares of the company's stock valued at $1,074,000 after acquiring an additional 6,900 shares during the period. Advisory Services Network LLC bought a new position in shares of Howmet Aerospace in the 4th quarter valued at about $1,399,000. Scotia Capital Inc. grew its holdings in Howmet Aerospace by 45.2% during the 4th quarter. Scotia Capital Inc. now owns 16,547 shares of the company's stock worth $1,810,000 after acquiring an additional 5,149 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of Howmet Aerospace by 53.3% during the fourth quarter. Sterling Capital Management LLC now owns 23,062 shares of the company's stock worth $2,522,000 after purchasing an additional 8,019 shares during the period. 90.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Vertical Research restated a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. Benchmark raised their price target on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. UBS Group upped their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, BTIG Research set a $205.00 target price on Howmet Aerospace and gave the company a "buy" rating in a research report on Monday, August 4th. 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $172.13.

Read Our Latest Analysis on HWM

Howmet Aerospace Trading Down 0.4%

Shares of NYSE HWM traded down $0.63 during trading hours on Thursday, hitting $176.17. The company's stock had a trading volume of 2,003,778 shares, compared to its average volume of 3,047,611. Howmet Aerospace Inc. has a 12 month low of $90.71 and a 12 month high of $193.26. The stock has a market cap of $71.02 billion, a price-to-earnings ratio of 51.51, a P/E/G ratio of 2.31 and a beta of 1.48. 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 business has a 50-day simple moving average of $179.89 and a 200-day simple moving average of $152.16.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm 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%. The business's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. On average, analysts anticipate 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. Shareholders of record on Friday, August 8th will be given a $0.12 dividend. 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. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. Howmet Aerospace's payout ratio is presently 14.04%.

About Howmet Aerospace

(Free Report)

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.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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