Arrowstreet Capital Limited Partnership Reduces Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Arrowstreet Capital Limited Partnership trimmed its position in Howmet Aerospace Inc. (NYSE:HWM) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,361,601 shares of the company’s stock after selling 1,360,482 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.34% of Howmet Aerospace worth $148,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HWM. Vanguard Group Inc. raised its position in Howmet Aerospace by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock worth $5,153,220,000 after buying an additional 352,256 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock worth $2,209,071,000 after acquiring an additional 2,486,649 shares during the period. State Street Corp raised its holdings in shares of Howmet Aerospace by 2.3% during the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after purchasing an additional 384,171 shares during the last quarter. Geode Capital Management LLC lifted its position in Howmet Aerospace by 5.0% during the third quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock valued at $949,382,000 after purchasing an additional 453,275 shares during the period. Finally, Norges Bank purchased a new stake in Howmet Aerospace in the fourth quarter valued at $1,001,558,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $129.61 on Monday. The company 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 Inc. has a twelve month low of $62.80 and a twelve month high of $140.55. The company’s 50-day moving average price is $129.41 and its 200-day moving average price is $116.04. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a $0.10 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio is presently 14.18%.

Wall Street Analysts Forecast Growth

HWM has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Barclays upped their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group increased their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. 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 company. According to data from MarketBeat.com, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.28.

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.