Baird Financial Group Inc. Increases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Baird Financial Group Inc. raised its position in Howmet Aerospace Inc. (NYSE:HWM) by 105.5% in the 4th quarter, Holdings Channel reports. The fund owned 33,886 shares of the company’s stock after purchasing an additional 17,397 shares during the period. Baird Financial Group Inc.’s holdings in Howmet Aerospace were worth $3,706,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HWM. Banque Transatlantique SA purchased a new stake in Howmet Aerospace during the 4th quarter worth $4,249,000. Bearing Point Capital LLC purchased a new position in Howmet Aerospace in the fourth quarter valued at about $7,614,000. Alteri Wealth LLC acquired a new stake in Howmet Aerospace during the 4th quarter valued at approximately $468,000. Aptus Capital Advisors LLC purchased a new stake in Howmet Aerospace during the 4th quarter worth approximately $561,000. Finally, AXA S.A. boosted its stake in shares of Howmet Aerospace by 189.8% during the 4th quarter. AXA S.A. now owns 35,640 shares of the company’s stock valued at $3,898,000 after buying an additional 23,342 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Down 0.1 %

Howmet Aerospace stock opened at $157.40 on Friday. The company’s 50-day moving average price is $131.46 and its two-hundred day moving average price is $122.94. The stock has a market cap of $63.54 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 1.92 and a beta of 1.37. Howmet Aerospace Inc. has a 52 week low of $76.83 and a 52 week high of $159.04. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. On average, analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace’s payout ratio is 13.03%.

Insider Activity

In related news, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the transaction, the vice president now owns 23,044 shares in the company, valued at $3,575,737.48. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

HWM has been the topic of a number of research analyst reports. Northcoast Research upgraded shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. Barclays upped their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Morgan Stanley upped their price target on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, Truist Financial dropped their price objective on shares of Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $132.53.

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.