Korea Investment CORP bought a new position in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 291,625 shares of the company’s stock, valued at approximately $78,406,000. Korea Investment CORP owned 0.07% of Howmet Aerospace as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Howmet Aerospace by 5.4% during the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock worth $279,000 after buying an additional 130 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Howmet Aerospace in the first quarter worth about $399,000. Sivia Capital Partners LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth about $216,000. Brown Advisory Inc. grew its position in shares of Howmet Aerospace by 31.0% during the 2nd quarter. Brown Advisory Inc. now owns 4,180 shares of the company’s stock valued at $778,000 after acquiring an additional 990 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new position in Howmet Aerospace in the 2nd quarter worth about $145,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.
Howmet Aerospace Stock Down 0.8%
HWM stock opened at $271.58 on Friday. The company has a market cap of $108.66 billion, a price-to-earnings ratio of 58.53, a PEG ratio of 1.96 and a beta of 1.20. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 0.71. Howmet Aerospace Inc. has a 12 month low of $170.24 and a 12 month high of $310.00. The firm has a 50-day moving average of $278.62 and a two-hundred day moving average of $258.62.
Howmet Aerospace Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Friday, August 7th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 0.2%. Howmet Aerospace’s dividend payout ratio (DPR) is 12.07%.
Analysts Set New Price Targets
Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Citigroup reissued a “buy” rating on shares of Howmet Aerospace in a report on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Howmet Aerospace from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Zacks Research raised shares of Howmet Aerospace from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, Susquehanna raised their price target on shares of Howmet Aerospace from $330.00 to $340.00 and gave the company a “positive” rating in a research note on Friday, August 7th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.67.
Read Our Latest Stock Analysis 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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