Picton Mahoney Asset Management Decreases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Picton Mahoney Asset Management trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 189,394 shares of the company’s stock after selling 31,692 shares during the quarter. Picton Mahoney Asset Management’s holdings in Howmet Aerospace were worth $20,713,000 at the end of the most recent reporting period.

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

Howmet Aerospace Stock Up 3.1 %

Shares of NYSE:HWM opened at $126.56 on Friday. The business has a 50-day moving average price of $126.39 and a 200 day moving average price of $113.15. 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 company has a market capitalization of $51.26 billion, a price-to-earnings 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 issued its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.89 billion for 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%. Sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio is 14.18%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HWM shares. JPMorgan Chase & Co. increased their target price on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Barclays increased their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their target price on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $123.28.

About Howmet Aerospace

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.