Pinebridge Investments L.P. Has $17.37 Million Stake in Howmet Aerospace Inc. (NYSE:HWM)

Pinebridge Investments L.P. grew its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 33.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,857 shares of the company's stock after purchasing an additional 40,207 shares during the period. Pinebridge Investments L.P.'s holdings in Howmet Aerospace were worth $17,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its holdings in shares of Howmet Aerospace by 208.1% in the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company's stock valued at $25,000 after purchasing an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $25,000. R Squared Ltd bought a new position in shares of Howmet Aerospace in the fourth quarter valued at $26,000. Finally, Washington Trust Advisors Inc. bought a new stake in Howmet Aerospace during the fourth quarter worth $29,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HWM has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Howmet Aerospace from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $118.00 price target (down from $132.00) on shares of Howmet Aerospace in a research report on Tuesday, April 15th. The Goldman Sachs Group upped their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Barclays upped their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $125.06.

Howmet Aerospace Stock Performance

Shares of HWM stock traded up $1.64 on Tuesday, hitting $137.99. The company's stock had a trading volume of 729,620 shares, compared to its average volume of 2,729,783. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The stock's 50 day moving average is $128.00 and its 200-day moving average is $120.12. Howmet Aerospace Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $140.55. The company has a market capitalization of $55.81 billion, a PE ratio of 48.86, a PEG ratio of 1.92 and a beta of 1.25.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.88 billion. Equities research analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th will be given a $0.10 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.29%. Howmet Aerospace's dividend payout ratio is currently 14.18%.

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.