Howmet Aerospace (NYSE:HWM) Issues Earnings Results

Howmet Aerospace (NYSE:HWM – Get Rating) announced its quarterly earnings results on Thursday. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02, Briefing.com reports. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Howmet Aerospace had a net margin of 7.23% and a return on equity of 15.45%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share.

Howmet Aerospace Price Performance

Shares of NYSE:HWM traded down $0.05 during trading on Friday, reaching $37.06. The stock had a trading volume of 1,792,470 shares, compared to its average volume of 3,042,633. Howmet Aerospace has a 52 week low of $27.41 and a 52 week high of $38.07. The business’s 50-day moving average price is $33.95 and its 200 day moving average price is $34.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.15 and a quick ratio of 1.04. The stock has a market capitalization of $15.49 billion, a PE ratio of 41.18 and a beta of 1.59.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Friday, August 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Thursday, August 4th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 8.89%.

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 63,304 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $36.31, for a total value of $2,298,568.24. Following the completion of the sale, the chief financial officer now owns 382,379 shares of the company’s stock, valued at $13,884,181.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Howmet Aerospace

A number of hedge funds and other institutional investors have recently modified their holdings of HWM. Royal Bank of Canada increased its holdings in shares of Howmet Aerospace by 383.3% in the first quarter. Royal Bank of Canada now owns 1,362,379 shares of the company’s stock valued at $48,964,000 after purchasing an additional 1,080,491 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Howmet Aerospace by 141.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,299,654 shares of the company’s stock worth $46,709,000 after acquiring an additional 762,191 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in Howmet Aerospace during the 1st quarter worth $9,485,000. PointState Capital LP acquired a new stake in Howmet Aerospace during the 1st quarter worth $8,268,000. Finally, Ancora Advisors LLC grew its holdings in Howmet Aerospace by 9,759.7% during the 1st quarter. Ancora Advisors LLC now owns 128,472 shares of the company’s stock worth $4,127,000 after acquiring an additional 127,169 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HWM shares. KeyCorp cut their price target on shares of Howmet Aerospace from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Truist Financial started coverage on shares of Howmet Aerospace in a research note on Wednesday, July 6th. They set a “buy” rating and a $41.00 price target for the company. Benchmark upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, July 8th. Finally, Argus raised their price target on shares of Howmet Aerospace from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, June 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Buy” and a consensus price target of $40.57.

Howmet Aerospace Company Profile

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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.