Howmet Aerospace (NYSE:HWM) Reaches New 52-Week High Following Strong Earnings

Shares of Howmet Aerospace Inc. (NYSE:HWM) reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $77.88 and last traded at $77.01, with a volume of 1610642 shares trading hands. The stock had previously closed at $66.78.

The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a report on Friday, January 5th. They issued an “outperform” rating and a $67.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, UBS Group raised their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.77.

Insider Buying and Selling at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.12% of the company’s stock.

Institutional Trading of Howmet Aerospace

Several large investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC boosted its holdings in Howmet Aerospace by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after purchasing an additional 200 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Howmet Aerospace by 10.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock worth $122,000 after buying an additional 205 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Howmet Aerospace by 61.3% during the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after acquiring an additional 212 shares during the period. Whittier Trust Co. grew its holdings in Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after acquiring an additional 228 shares during the period. Finally, Lindbrook Capital LLC raised its position in Howmet Aerospace by 34.4% during the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after acquiring an additional 229 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The stock has a fifty day simple moving average of $66.44 and a 200-day simple moving average of $57.73. The company has a market capitalization of $32.21 billion, a price-to-earnings ratio of 43.10, a P/E/G ratio of 1.74 and a beta of 1.41.

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.