Ninepoint Partners LP Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

Ninepoint Partners LP reduced its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,931 shares of the company’s stock after selling 394 shares during the period. Ninepoint Partners LP’s holdings in Howmet Aerospace were worth $758,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. RiverPark Advisors LLC purchased a new stake in shares of Howmet Aerospace in the 3rd quarter valued at approximately $26,000. R Squared Ltd purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $26,000. Washington Trust Advisors Inc. purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $33,000. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $34,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HWM shares. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Truist Financial reiterated a “buy” rating and set a $140.00 price target (up previously from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. Barclays increased their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Morgan Stanley increased their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Stock Performance

Shares of HWM opened at $126.56 on Friday. The company has a 50-day moving average of $126.39 and a two-hundred day moving average of $113.26. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The stock has a market cap of $51.26 billion, a P/E ratio of 44.88, a PEG ratio of 1.92 and a beta of 1.54. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. As a group, research analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s payout ratio is presently 14.18%.

Howmet Aerospace 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.