Russell Investments Group Ltd. Buys 37,954 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Russell Investments Group Ltd. increased its ownership in Howmet Aerospace by 13.6%, purchasing 37,954 shares during the first quarter, bringing its total to 317,856 shares valued at approximately $41.2 million.
• Howmet Aerospace is set to pay a $0.12 quarterly dividend on August 25th, which marks an increase from the previous dividend of $0.10, yielding an annualized 0.3%.
• The company reported $2.05 billion in revenue for the last quarter, exceeding analyst expectations, and saw a significant growth in earnings per share to $0.91, up from $0.67 a year ago.

Russell Investments Group Ltd. increased its position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 317,856 shares of the company's stock after purchasing an additional 37,954 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of Howmet Aerospace worth $41,235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinpoint Asset Management Ltd raised its holdings in shares of Howmet Aerospace by 42.8% in the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock valued at $31,000 after buying an additional 71 shares during the last quarter. Hemington Wealth Management increased its position in Howmet Aerospace by 46.6% in the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock worth $33,000 after purchasing an additional 81 shares during the period. CVA Family Office LLC increased its position in Howmet Aerospace by 15.7% in the first quarter. CVA Family Office LLC now owns 605 shares of the company's stock worth $78,000 after purchasing an additional 82 shares during the period. Mount Lucas Management LP increased its position in Howmet Aerospace by 3.2% in the first quarter. Mount Lucas Management LP now owns 2,661 shares of the company's stock worth $345,000 after purchasing an additional 82 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Howmet Aerospace by 4.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company's stock worth $256,000 after purchasing an additional 92 shares during the period. 90.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HWM shares. Wall Street Zen upgraded Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays reiterated an "overweight" rating and issued a $190.00 price objective (up from $140.00) on shares of Howmet Aerospace in a research report on Monday, August 4th. Bank of America lifted their price objective on Howmet Aerospace from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Vertical Research restated a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Four equities research 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, Howmet Aerospace has an average rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Stock Down 2.9%

Shares of HWM traded down $5.04 on Friday, hitting $170.95. The company's stock had a trading volume of 3,263,932 shares, compared to its average volume of 2,826,564. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average price is $179.83 and its 200-day moving average price is $153.02. Howmet Aerospace Inc. has a fifty-two week low of $90.71 and a fifty-two week high of $193.26. The firm has a market capitalization of $68.92 billion, a price-to-earnings ratio of 49.99, a P/E/G ratio of 2.22 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly 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. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. The business's revenue was up 9.2% on a year-over-year basis. On average, equities research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a dividend of $0.12 per share. This is an increase 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 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.