Legacy Capital Group California Inc. Acquires New Position in Howmet Aerospace Inc. (NYSE:HWM)

Legacy Capital Group California Inc. acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,481 shares of the company’s stock, valued at approximately $928,000.

A number of other hedge funds have also added to or reduced their stakes in HWM. RiverPark Advisors LLC acquired a new stake in Howmet Aerospace in the third quarter valued at approximately $26,000. R Squared Ltd acquired a new stake in Howmet Aerospace in the fourth quarter valued at 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 acquired a new stake in Howmet Aerospace in the fourth quarter valued at approximately $33,000. Finally, Hanson & Doremus Investment Management acquired a new stake in Howmet Aerospace in the fourth quarter valued at approximately $34,000. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Price Performance

HWM stock opened at $138.16 on Friday. The firm has a market cap of $55.96 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 1.51 and a beta of 1.50. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55. The company’s fifty day simple moving average is $120.86 and its 200 day simple moving average is $109.29.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. On average, analysts expect that Howmet Aerospace Inc. will post 3.24 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared 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 is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, February 7th. Howmet Aerospace’s payout ratio is 14.18%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HWM. Truist Financial restated a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Bank of America raised their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group lifted their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average target price of $123.28.

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.