Howmet Aerospace (NYSE:HWM) Sets New 12-Month High - Time to Buy?

Howmet Aerospace Inc. (NYSE:HWM - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $156.80 and last traded at $155.99, with a volume of 2645968 shares. The stock had previously closed at $154.34.

Analysts Set New Price Targets

HWM has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on shares of Howmet Aerospace from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wells Fargo & Company increased their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Northcoast Research upgraded Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Finally, Truist Financial reduced their target price on Howmet Aerospace from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $132.53.

Howmet Aerospace Stock Down 0.1 %

The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $63.54 billion, a price-to-earnings ratio of 55.82, a P/E/G ratio of 1.92 and a beta of 1.37. The business's 50-day moving average is $131.46 and its 200-day moving average is $122.80.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, equities analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is presently 13.03%.

Insider Buying and Selling at Howmet Aerospace

In other news, VP Barbara Lou Shultz sold 1,250 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the transaction, the vice president now directly owns 23,044 shares of the company's stock, valued at $3,575,737.48. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Howmet Aerospace

Large investors have recently added to or reduced their stakes in the stock. Hemington Wealth Management raised its stake in shares of Howmet Aerospace by 46.6% in the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock valued at $33,000 after acquiring an additional 81 shares in the last quarter. CVA Family Office LLC increased its holdings in Howmet Aerospace by 15.7% during the 1st 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 raised its position in Howmet Aerospace by 3.2% in the 1st quarter. Mount Lucas Management LP now owns 2,661 shares of the company's stock valued at $345,000 after purchasing an additional 82 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Howmet Aerospace by 28.0% in the 4th quarter. Private Trust Co. NA now owns 407 shares of the company's stock valued at $45,000 after buying an additional 89 shares during the period. Finally, O Neil Global Advisors Inc. grew its position in shares of Howmet Aerospace by 0.5% during the fourth quarter. O Neil Global Advisors Inc. now owns 19,527 shares of the company's stock worth $2,136,000 after buying an additional 90 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.