abrdn plc Has $9.81 Million Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

abrdn plc lifted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 84.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,171 shares of the company’s stock after purchasing an additional 83,061 shares during the period. abrdn plc’s holdings in Howmet Aerospace were worth $9,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Accurate Wealth Management LLC acquired a new position in Howmet Aerospace during the fourth quarter valued at $2,825,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Howmet Aerospace in the 3rd quarter worth about $1,697,000. QRG Capital Management Inc. acquired a new position in Howmet Aerospace in the 3rd quarter worth about $407,000. Cullen Investment Group LTD. acquired a new position in Howmet Aerospace in the 4th quarter worth about $703,000. Finally, Victory Capital Management Inc. increased its position in Howmet Aerospace by 15.0% in the 3rd quarter. Victory Capital Management Inc. now owns 347,072 shares of the company’s stock worth $16,052,000 after purchasing an additional 45,246 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $66.40 on Friday. The business has a 50 day moving average price of $65.97 and a 200 day moving average price of $57.07. Howmet Aerospace Inc. has a twelve month low of $42.17 and a twelve month high of $69.55. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 1.68 and a beta of 1.43. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts predict that Howmet Aerospace Inc. will post 2.18 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 0.30%. Howmet Aerospace’s payout ratio is 10.93%.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group upped their target price on Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Barclays upped their target price on Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada assumed coverage on Howmet Aerospace in a research report on Monday, March 18th. They issued an “outperform” rating and a $75.00 target price on the stock. KeyCorp upped their price target on Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Finally, Sanford C. Bernstein assumed coverage on Howmet Aerospace in a research note on Friday, January 5th. They set an “outperform” rating and a $67.00 price target for the company. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

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.