Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 8.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 621,146 shares of the company’s stock after purchasing an additional 50,197 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.15% of Howmet Aerospace worth $70,040,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Quest Partners LLC grew its holdings in Howmet Aerospace by 94.9% during the third quarter. Quest Partners LLC now owns 1,405 shares of the company’s stock worth $141,000 after acquiring an additional 684 shares during the period. Cerity Partners LLC grew its stake in shares of Howmet Aerospace by 155.4% during the 3rd quarter. Cerity Partners LLC now owns 55,365 shares of the company’s stock worth $5,550,000 after purchasing an additional 33,686 shares during the period. Kingsview Wealth Management LLC purchased a new stake in Howmet Aerospace during the third quarter worth $497,000. Larson Financial Group LLC grew its position in Howmet Aerospace by 99.2% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $52,000 after buying an additional 259 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Howmet Aerospace by 4.3% in the third quarter. The Manufacturers Life Insurance Company now owns 245,943 shares of the company’s stock valued at $24,656,000 after buying an additional 10,158 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial reissued a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays upped their target price on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.28.

Howmet Aerospace Price Performance

NYSE:HWM opened at $129.61 on Friday. The stock has a 50 day moving average price of $129.41 and a 200 day moving average price of $115.73. The stock has a market cap of $52.50 billion, a PE ratio of 45.96, a P/E/G ratio of 1.92 and a beta of 1.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. Howmet Aerospace Inc. has a one year low of $62.80 and a one year high of $140.55.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Equities research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend 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 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.