Benchmark Reiterates “Buy” Rating for Howmet Aerospace (NYSE:HWM)

Benchmark reaffirmed their buy rating on shares of Howmet Aerospace (NYSE:HWM) in a research note released on Friday, Benzinga reports. Benchmark currently has a $53.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. Truist Financial raised shares of Howmet Aerospace from a hold rating to a buy rating and raised their target price for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Robert W. Baird raised their target price on shares of Howmet Aerospace from $65.00 to $74.00 and gave the company an outperform rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of Howmet Aerospace from $65.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Royal Bank of Canada assumed coverage on shares of Howmet Aerospace in a research note on Monday, March 18th. They issued an outperform rating and a $75.00 target price on the stock. Finally, KeyCorp raised their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Howmet Aerospace presently has an average rating of Moderate Buy and a consensus price target of $66.00.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $62.93 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. The company has a market cap of $25.70 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.65 and a beta of 1.43. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $69.55. The firm’s 50 day moving average is $65.79 and its two-hundred day moving average is $56.69.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. Howmet Aerospace’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts expect that Howmet Aerospace will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nilsine Partners LLC bought a new position in shares of Howmet Aerospace in the 1st quarter worth about $216,000. Outlook Wealth Advisors LLC bought a new position in shares of Howmet Aerospace in the 1st quarter worth about $663,000. Veracity Capital LLC lifted its position in shares of Howmet Aerospace by 23.3% in the 1st quarter. Veracity Capital LLC now owns 6,902 shares of the company’s stock worth $472,000 after buying an additional 1,304 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Howmet Aerospace by 16.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,421 shares of the company’s stock worth $508,000 after buying an additional 1,040 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Howmet Aerospace by 7.8% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 420,354 shares of the company’s stock worth $28,765,000 after buying an additional 30,240 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

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.