Howmet Aerospace (NYSE:HWM) Sets New 12-Month High – Here’s What Happened

Howmet Aerospace Inc. (NYSE:HWM)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $227.49 and last traded at $226.6160, with a volume of 224639 shares traded. The stock had previously closed at $225.15.

Analyst Upgrades and Downgrades

HWM has been the topic of several recent analyst reports. BNP Paribas Exane assumed coverage on Howmet Aerospace in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $240.00 price target on the stock. Truist Financial set a $258.00 price target on shares of Howmet Aerospace in a research report on Friday, January 9th. Susquehanna reissued a “positive” rating and set a $255.00 price objective on shares of Howmet Aerospace in a research report on Thursday, January 15th. BTIG Research boosted their target price on shares of Howmet Aerospace from $205.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Finally, UBS Group increased their price target on shares of Howmet Aerospace from $199.00 to $209.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.53.

Howmet Aerospace Stock Up 0.1%

The company has a current ratio of 2.35, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $90.57 billion, a PE ratio of 63.23, a P/E/G ratio of 2.11 and a beta of 1.26. The firm has a 50 day simple moving average of $209.05 and a two-hundred day simple moving average of $196.69.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, February 6th. Howmet Aerospace’s payout ratio is 13.48%.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently made changes to their positions in HWM. Sound Income Strategies LLC raised its holdings in Howmet Aerospace by 66.7% during the fourth quarter. Sound Income Strategies LLC now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Traub Capital Management LLC acquired a new stake in Howmet Aerospace during the 2nd quarter valued at $25,000. Winnow Wealth LLC purchased a new position in Howmet Aerospace during the second quarter worth $25,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Howmet Aerospace by 119.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 134 shares of the company’s stock worth $25,000 after acquiring an additional 73 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its holdings in shares of Howmet Aerospace by 52.0% in the third quarter. Tradewinds Capital Management LLC now owns 152 shares of the company’s stock worth $30,000 after acquiring an additional 52 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Company Profile

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.