Bank of New York Mellon Corp Decreases Stake in Howmet Aerospace Inc. (NYSE:HWM)

Bank of New York Mellon Corp lessened its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,027,880 shares of the company’s stock after selling 39,164 shares during the period. Bank of New York Mellon Corp owned about 1.48% of Howmet Aerospace worth $659,269,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Stifel Financial Corp grew its stake in shares of Howmet Aerospace by 12.1% during the third quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock worth $26,450,000 after purchasing an additional 28,568 shares in the last quarter. Vista Investment Partners LLC acquired a new position in shares of Howmet Aerospace during the 4th quarter worth about $531,000. Genesis Private Wealth LLC purchased a new position in shares of Howmet Aerospace in the 4th quarter valued at about $249,000. Oppenheimer & Co. Inc. increased its holdings in shares of Howmet Aerospace by 135.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,159 shares of the company’s stock valued at $2,622,000 after acquiring an additional 15,070 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Howmet Aerospace during the 4th quarter worth about $289,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Susquehanna upped their price target on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial reiterated a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group raised their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $130.37 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The business has a 50 day simple moving average of $121.88 and a 200-day simple moving average of $110.42. Howmet Aerospace Inc. has a 12 month low of $62.80 and a 12 month high of $140.55. The stock has a market capitalization of $52.80 billion, a PE ratio of 46.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

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

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is currently 14.18%.

Howmet Aerospace Company 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.