Howmet Aerospace Inc. $HWM Stock: Candriam S.C.A. Increases Stake

Candriam S.C.A. increased its position in Howmet Aerospace Inc. (NYSE:HWM) by 49.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 62,509 shares of the company’s stock after buying an additional 20,812 shares during the quarter. Candriam S.C.A.’s holdings in Howmet Aerospace were worth $14,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Paces Advisors Inc. bought a new position in shares of Howmet Aerospace in the second quarter worth approximately $27,000. Bartlett & CO. Wealth Management LLC raised its position in shares of Howmet Aerospace by 55.1% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company’s stock valued at $29,000 after purchasing an additional 38 shares during the period. Markowski Investments purchased a new position in shares of Howmet Aerospace during the 2nd quarter valued at $29,000. Reyes Financial Architecture Inc. purchased a new position in shares of Howmet Aerospace during the 3rd quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC boosted its holdings in Howmet Aerospace by 328.1% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 137 shares of the company’s stock worth $31,000 after buying an additional 105 shares during the period. Institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HWM. Deutsche Bank Aktiengesellschaft increased their price target on Howmet Aerospace from $338.00 to $343.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group lowered their price objective on Howmet Aerospace from $370.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. BTIG Research dropped their price objective on Howmet Aerospace from $340.00 to $280.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Zacks Research cut Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Finally, KeyCorp raised Howmet Aerospace from a “sector weight” rating to an “overweight” rating and set a $237.00 target price on the stock in a research note on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $295.81.

Howmet Aerospace Stock Performance

HWM opened at $216.28 on Tuesday. The stock has a market capitalization of $86.01 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 1.56 and a beta of 1.31. The company has a fifty day moving average of $222.43 and a 200 day moving average of $248.18. Howmet Aerospace Inc. has a fifty-two week low of $183.52 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.90 and a current ratio of 1.86.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Howmet Aerospace Inc. will post 5.49 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, November 6th. Howmet Aerospace’s payout ratio is 10.96%.

Howmet Aerospace Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks.

The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.

Howmet Aerospace became an independent company in 2020 following its separation from Arconic.