Rakuten Investment Management Inc. purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 65,490 shares of the company’s stock, valued at approximately $17,589,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its stake in Howmet Aerospace by 119.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 134 shares of the company’s stock worth $25,000 after buying an additional 73 shares during the period. Acumen Wealth Advisors LLC purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $25,000. West Paces Advisors Inc. purchased a new stake in shares of Howmet Aerospace in the 2nd quarter valued at approximately $27,000. Cornerstone Financial Management LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter worth approximately $28,000. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Howmet Aerospace by 65.1% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 137 shares of the company’s stock worth $28,000 after acquiring an additional 54 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.
Howmet Aerospace Trading Down 1.2%
HWM opened at $264.48 on Friday. The business has a fifty day moving average price of $277.41 and a 200 day moving average price of $260.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.82 and a quick ratio of 0.87. Howmet Aerospace Inc. has a 12 month low of $170.81 and a 12 month high of $310.00. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 1.91 and a beta of 1.20.
Howmet Aerospace Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Friday, August 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.2%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, August 7th. Howmet Aerospace’s dividend payout ratio is 12.07%.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Wells Fargo & Company reiterated an “outperform” rating and issued a $315.00 target price on shares of Howmet Aerospace in a report on Monday, August 10th. Morgan Stanley restated an “overweight” rating and set a $335.00 price target on shares of Howmet Aerospace in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $320.00 price target on shares of Howmet Aerospace in a research report on Friday, May 8th. BTIG Research lifted their price objective on Howmet Aerospace from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $370.00 price objective on shares of Howmet Aerospace in a report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $316.22.
Get Our Latest Report on Howmet Aerospace
Howmet Aerospace Company Profile
Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.
Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.
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