Howmet Aerospace Inc. (NYSE:HWM) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,064 shares of the company’s stock after purchasing an additional 2,523 shares during the period. CIBC Asset Management Inc’s holdings in Howmet Aerospace were worth $6,788,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. RiverPark Advisors LLC purchased a new stake in shares of Howmet Aerospace in the third quarter worth about $26,000. R Squared Ltd purchased a new position in Howmet Aerospace in the 4th quarter worth approximately $26,000. Hollencrest Capital Management acquired a new stake in Howmet Aerospace in the third quarter valued at approximately $30,000. Global Trust Asset Management LLC purchased a new stake in shares of Howmet Aerospace during the fourth quarter valued at approximately $33,000. Finally, Hanson & Doremus Investment Management acquired a new position in shares of Howmet Aerospace during the fourth quarter worth $34,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HWM has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised their price objective on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America upped their target price on Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Price Performance

HWM opened at $139.36 on Thursday. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $120.37 and its 200 day moving average price is $109.09. Howmet Aerospace Inc. has a fifty-two week low of $62.70 and a fifty-two week high of $140.55. The firm has a market cap of $56.62 billion, a price-to-earnings ratio of 49.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.50.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. As a group, sell-side analysts expect that Howmet Aerospace Inc. will post 3.17 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.29%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, February 7th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.18%.

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.