Allstate Corp Takes $1.24 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Allstate Corp purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,344 shares of the company’s stock, valued at approximately $1,241,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its holdings in shares of Howmet Aerospace by 12.1% during the 3rd quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock valued at $26,450,000 after acquiring an additional 28,568 shares in the last quarter. Vista Investment Partners LLC acquired a new stake in Howmet Aerospace during the 4th quarter worth approximately $531,000. Genesis Private Wealth LLC bought a new stake in Howmet Aerospace during the 4th quarter worth approximately $249,000. Ameritas Advisory Services LLC acquired a new position in Howmet Aerospace in the 4th quarter valued at approximately $289,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Howmet Aerospace by 303.1% during the fourth quarter. Geneos Wealth Management Inc. now owns 10,960 shares of the company’s stock valued at $1,199,000 after acquiring an additional 8,241 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HWM. Wells Fargo & Company raised their target price on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Morgan Stanley increased their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Truist Financial reiterated a “buy” rating and set a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Price Performance

Shares of HWM opened at $129.61 on Monday. The business’s fifty day moving average is $129.41 and its 200 day moving average is $116.04. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The stock has a market cap of $52.50 billion, a P/E ratio of 45.96, a P/E/G ratio of 1.92 and a beta of 1.54.

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

Howmet Aerospace Increases Dividend

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