Benchmark Reaffirms “Buy” Rating for Howmet Aerospace (NYSE:HWM)

Benchmark reiterated their buy rating on shares of Howmet Aerospace (NYSE:HWM) in a research report report published on Friday morning, Benzinga reports. They currently have a $53.00 target price on the stock.

HWM has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on shares of Howmet Aerospace from $65.00 to $77.00 and gave the company a buy rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a report on Friday, January 5th. They set an outperform rating and a $67.00 target price on the stock. Robert W. Baird upped their target price on shares of Howmet Aerospace from $65.00 to $74.00 and gave the stock an outperform rating in a report on Monday, April 8th. Finally, Royal Bank of Canada initiated coverage on shares of Howmet Aerospace in a report on Monday, March 18th. They set an outperform rating and a $75.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of Moderate Buy and an average target price of $66.00.

Howmet Aerospace Stock Down 0.1 %

HWM opened at $63.41 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. The stock has a market cap of $25.90 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 1.65 and a beta of 1.43. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $69.55. The company’s 50-day moving average price is $65.71 and its two-hundred day moving average price is $56.42.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts expect that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio (DPR) is 10.93%.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Howmet Aerospace

Several institutional investors have recently added to or reduced their stakes in the company. Veracity Capital LLC boosted its position in Howmet Aerospace by 23.3% during the 1st quarter. Veracity Capital LLC now owns 6,902 shares of the company’s stock valued at $472,000 after buying an additional 1,304 shares during the period. First Trust Direct Indexing L.P. boosted its position in Howmet Aerospace by 16.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 7,421 shares of the company’s stock valued at $508,000 after buying an additional 1,040 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Howmet Aerospace by 7.8% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 420,354 shares of the company’s stock valued at $28,765,000 after buying an additional 30,240 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Howmet Aerospace by 16.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 141,223 shares of the company’s stock worth $9,664,000 after purchasing an additional 19,431 shares during the period. Finally, Oak Thistle LLC lifted its position in shares of Howmet Aerospace by 8.3% in the 1st quarter. Oak Thistle LLC now owns 8,150 shares of the company’s stock worth $558,000 after purchasing an additional 626 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

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.