New Mexico Educational Retirement Board decreased its holdings in Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,009 shares of the company’s stock after selling 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Howmet Aerospace were worth $721,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Howmet Aerospace by 9.7% during the first quarter. US Bancorp DE now owns 20,717 shares of the company’s stock worth $745,000 after acquiring an additional 1,834 shares in the last quarter. HighTower Advisors LLC boosted its stake in Howmet Aerospace by 299.5% in the 1st quarter. HighTower Advisors LLC now owns 31,892 shares of the company’s stock worth $1,147,000 after purchasing an additional 23,910 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Howmet Aerospace by 2.2% in the first quarter. Panagora Asset Management Inc. now owns 31,230 shares of the company’s stock worth $1,122,000 after buying an additional 663 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Howmet Aerospace by 5.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,781 shares of the company’s stock valued at $1,825,000 after acquiring an additional 2,520 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Howmet Aerospace by 4.0% during the 1st quarter. APG Asset Management N.V. now owns 20,900 shares of the company’s stock worth $675,000 after acquiring an additional 800 shares during the period. Institutional investors own 87.98% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on HWM. Barclays boosted their target price on Howmet Aerospace from $44.00 to $52.00 in a research report on Tuesday, May 9th. Robert W. Baird started coverage on shares of Howmet Aerospace in a report on Monday, July 24th. They set an “outperform” rating and a $61.00 price objective for the company. SpectralCast restated a “maintains” rating on shares of Howmet Aerospace in a research report on Tuesday, June 20th. Bank of America upped their price objective on Howmet Aerospace from $45.00 to $52.00 in a report on Tuesday, May 9th. Finally, Truist Financial raised their price objective on Howmet Aerospace from $42.00 to $47.00 and gave the company a “hold” rating in a report on Friday, July 21st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $49.42.
Howmet Aerospace Stock Performance
Howmet Aerospace (NYSE:HWM – Get Free Report) last announced its earnings results on Tuesday, May 2nd. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Howmet Aerospace had a net margin of 8.18% and a return on equity of 18.39%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, research analysts expect that Howmet Aerospace Inc. will post 1.71 earnings per share for the current year.
Howmet Aerospace Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 4th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Thursday, August 3rd. Howmet Aerospace’s payout ratio is 13.91%.
About Howmet Aerospace
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.
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