63,783 Shares of Howmet Aerospace Inc. $HWM Purchased by M&G PLC

M&G PLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 63,783 shares of the company’s stock, valued at approximately $14,415,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Howmet Aerospace during the 2nd quarter worth about $12,318,939,000. State Street Corp increased its stake in shares of Howmet Aerospace by 3.3% in the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock valued at $5,090,576,000 after purchasing an additional 612,866 shares in the last quarter. Bank of America Corp DE acquired a new position in Howmet Aerospace in the 2nd quarter worth about $2,766,806,000. Jupiter Topco LLC acquired a new position in Howmet Aerospace in the 2nd quarter worth about $2,065,086,000. Finally, Bank of New York Mellon Corp acquired a new position in Howmet Aerospace in the 2nd quarter worth about $1,099,765,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on HWM shares. TD Cowen dropped their price objective on Howmet Aerospace from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Jefferies Financial Group cut their price objective on Howmet Aerospace from $370.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Wells Fargo & Company reduced their target price on Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft increased their target price on Howmet Aerospace from $338.00 to $343.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $298.00 price target (down from $328.00) on shares of Howmet Aerospace in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $295.81.

Howmet Aerospace Stock Up 1.3%

Shares of HWM opened at $219.01 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.90 and a current ratio of 1.86. Howmet Aerospace Inc. has a one year low of $183.52 and a one year high of $310.00. The stock has a market capitalization of $87.09 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 1.58 and a beta of 1.31. The stock has a 50 day moving average price of $221.90 and a 200 day moving average price of $248.18.

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

Howmet Aerospace Announces Dividend

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

Howmet Aerospace Company Profile

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.