Chase Investment Counsel Corp Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

Chase Investment Counsel Corp reduced its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,378 shares of the company’s stock after selling 1,466 shares during the period. Howmet Aerospace comprises 1.8% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 19th largest holding. Chase Investment Counsel Corp’s holdings in Howmet Aerospace were worth $5,509,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in shares of Howmet Aerospace by 1.6% in the 4th quarter. Metis Global Partners LLC now owns 16,358 shares of the company’s stock valued at $1,789,000 after purchasing an additional 263 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $306,000. Fisher Asset Management LLC purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $243,000. SVB Wealth LLC purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $290,000. Finally, Private Trust Co. NA increased its position in shares of Howmet Aerospace by 28.0% in the 4th quarter. Private Trust Co. NA now owns 407 shares of the company’s stock valued at $45,000 after purchasing an additional 89 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HWM. UBS Group increased their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial restated a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. The Goldman Sachs Group upped their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Susquehanna upped their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.28.

Howmet Aerospace Stock Up 2.5 %

Shares of NYSE:HWM opened at $136.73 on Friday. The stock has a market cap of $55.38 billion, a P/E ratio of 48.49, a P/E/G ratio of 1.92 and a beta of 1.50. The firm has a fifty day moving average price of $123.36 and a 200 day moving average price of $111.03. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. Howmet Aerospace Inc. has a 1-year low of $62.80 and a 1-year high of $140.55.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.29%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is presently 14.18%.

Howmet Aerospace 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.