Howmet Aerospace (NYSE:HWM) Hits New 52-Week High – Still a Buy?

Howmet Aerospace Inc. (NYSE:HWM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $110.35 and last traded at $109.39, with a volume of 50850 shares changing hands. The stock had previously closed at $102.16.

Analysts Set New Price Targets

HWM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Susquehanna started coverage on Howmet Aerospace in a research note on Tuesday, October 8th. They set a “positive” rating and a $120.00 price target for the company. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.50.

Howmet Aerospace Stock Up 10.9 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The firm has a market capitalization of $46.25 billion, a P/E ratio of 47.77, a PEG ratio of 1.45 and a beta of 1.46. The business’s fifty day moving average price is $99.39 and its two-hundred day moving average price is $88.58.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is presently 14.16%.

Insider Activity

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Senator Investment Group LP lifted its holdings in Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after purchasing an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC acquired a new position in Howmet Aerospace during the third quarter worth about $1,264,000. Wealthspire Advisors LLC purchased a new stake in Howmet Aerospace during the 2nd quarter valued at about $209,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Howmet Aerospace by 1,258.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Howmet Aerospace by 51.6% in the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after purchasing an additional 8,676 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

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.