Howmet Aerospace Inc. $HWM Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its stake in Howmet Aerospace Inc. (NYSE:HWM) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,384 shares of the company’s stock after selling 4,685 shares during the period. Fifth Third Bancorp’s holdings in Howmet Aerospace were worth $18,860,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Howmet Aerospace in the second quarter valued at approximately $12,318,939,000. Bank of America Corp DE acquired a new position in shares of Howmet Aerospace in the 2nd quarter worth $2,766,806,000. Jupiter Topco LLC acquired a new stake in shares of Howmet Aerospace during the second quarter worth $2,065,086,000. Bank of New York Mellon Corp acquired a new stake in shares of Howmet Aerospace during the second quarter worth $1,099,765,000. Finally, Legal & General Group Plc purchased a new stake in shares of Howmet Aerospace during the second quarter valued at $580,991,000. Institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

HWM has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Morgan Stanley restated an “overweight” rating and set a $335.00 price objective on shares of Howmet Aerospace in a research report on Monday, August 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $298.00 target price (down from $328.00) on shares of Howmet Aerospace in a research note on Wednesday, October 7th. BNP Paribas Exane dropped their target price on Howmet Aerospace from $310.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Finally, Weiss Ratings upgraded Howmet Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $295.81.

Howmet Aerospace Stock Down 1.1%

NYSE HWM opened at $220.72 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.90 and a current ratio of 1.86. The firm has a 50-day simple moving average of $219.89 and a 200 day simple moving average of $248.29. Howmet Aerospace Inc. has a twelve month low of $183.52 and a twelve month high of $310.00. The stock has a market cap of $87.77 billion, a PE ratio of 44.09, a PEG ratio of 1.63 and a beta of 1.31.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the business earned $0.95 EPS. The firm’s revenue was up 29.4% on a year-over-year basis. On average, research analysts forecast that Howmet Aerospace Inc. will post 5.49 EPS for the current year.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, November 6th. Howmet Aerospace’s dividend payout ratio is presently 10.96%.

About Howmet Aerospace

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.