Howmet Aerospace Inc. Plans Quarterly Dividend of $0.04 (NYSE:HWM)

Posted by on Aug 1st, 2023

Howmet Aerospace Inc. (NYSE:HWM – Get Free Report) declared a quarterly dividend on Friday, July 14th, NASDAQ reports. Shareholders of record on Friday, August 4th will be paid a dividend of 0.04 per share on Friday, August 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, August 3rd.

Howmet Aerospace has a payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Howmet Aerospace to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.5%.

Howmet Aerospace Trading Up 1.4 %

Shares of NYSE HWM opened at $51.16 on Tuesday. Howmet Aerospace has a 1-year low of $30.59 and a 1-year high of $51.34. The company has a market cap of $21.14 billion, a PE ratio of 44.49, a P/E/G ratio of 1.77 and a beta of 1.46. The company has a current ratio of 2.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average of $47.45 and a two-hundred day moving average of $43.97.

Howmet Aerospace (NYSE:HWM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.49 billion. Howmet Aerospace had a net margin of 8.18% and a return on equity of 18.39%. Howmet Aerospace’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts expect that Howmet Aerospace will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Howmet Aerospace

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Howmet Aerospace in the 4th quarter valued at $134,379,000. Macquarie Group Ltd. lifted its position in shares of Howmet Aerospace by 5,231.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,575,116 shares of the company’s stock valued at $66,738,000 after acquiring an additional 1,545,570 shares during the period. Royal Bank of Canada lifted its position in shares of Howmet Aerospace by 383.3% during the 1st quarter. Royal Bank of Canada now owns 1,362,379 shares of the company’s stock valued at $48,964,000 after acquiring an additional 1,080,491 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Howmet Aerospace by 3,224.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 925,613 shares of the company’s stock valued at $28,630,000 after acquiring an additional 897,770 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Howmet Aerospace by 141.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,299,654 shares of the company’s stock valued at $46,709,000 after acquiring an additional 762,191 shares during the period. 87.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HWM shares. SpectralCast reissued a “maintains” rating on shares of Howmet Aerospace in a research note on Tuesday, June 20th. Truist Financial upped their price target on shares of Howmet Aerospace from $42.00 to $47.00 and gave the company a “hold” rating in a report on Friday, July 21st. Barclays lifted their price objective on shares of Howmet Aerospace from $44.00 to $52.00 in a research report on Tuesday, May 9th. Robert W. Baird initiated coverage on shares of Howmet Aerospace in a research note on Monday, July 24th. They set an “outperform” rating and a $61.00 target price for the company. Finally, Bank of America lifted their price objective on shares of Howmet Aerospace from $45.00 to $52.00 in a research note on Tuesday, May 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.42.

About Howmet Aerospace

(Get Free Report)

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.

See Also

Dividend History for Howmet Aerospace (NYSE:HWM)

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