Howmet Aerospace (NYSE:HWM) Hits New 52-Week High – Time to Buy?

Shares of Howmet Aerospace Inc. (NYSE:HWM) hit a new 52-week high during trading on Monday . The company traded as high as $165.36 and last traded at $164.65, with a volume of 311872 shares trading hands. The stock had previously closed at $162.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group boosted their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Truist Financial reduced their price objective on Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, BTIG Research restated a “buy” rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.53.

Howmet Aerospace Stock Performance

The firm has a market capitalization of $66.64 billion, a PE ratio of 58.49, a PEG ratio of 1.92 and a beta of 1.37. The firm’s fifty day moving average price is $134.88 and its 200 day moving average price is $125.15. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Howmet Aerospace’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 13.03%.

Insider Buying and Selling

In other news, CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the sale, the chief executive officer now directly owns 236,544 shares of the company’s stock, valued at $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Barbara Lou Shultz sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were 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 in the company, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 831,250 shares of company stock valued at $130,517,863 over the last quarter. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilson & Boucher Capital Management LLC bought a new stake in shares of Howmet Aerospace during the 1st quarter worth about $203,000. Empowered Funds LLC increased its position in shares of Howmet Aerospace by 30.4% during the first quarter. Empowered Funds LLC now owns 112,587 shares of the company’s stock worth $14,606,000 after buying an additional 26,225 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Howmet Aerospace during the first quarter worth $310,000. United Services Automobile Association acquired a new stake in Howmet Aerospace in the first quarter worth $1,218,000. Finally, Caxton Associates LLP bought a new position in shares of Howmet Aerospace in the first quarter valued at $7,696,000. 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.