Arizona State Retirement System Acquires 1,504 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Arizona State Retirement System raised its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,600 shares of the company’s stock after purchasing an additional 1,504 shares during the period. Arizona State Retirement System’s holdings in Howmet Aerospace were worth $12,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RiverPark Advisors LLC bought a new position in Howmet Aerospace during the 3rd quarter valued at approximately $26,000. R Squared Ltd bought a new position in Howmet Aerospace during the 4th quarter valued at approximately $26,000. Hollencrest Capital Management bought a new position in Howmet Aerospace during the 3rd quarter valued at approximately $30,000. Global Trust Asset Management LLC bought a new position in Howmet Aerospace during the 4th quarter valued at approximately $33,000. Finally, Hanson & Doremus Investment Management bought a new position in Howmet Aerospace during the 4th quarter valued at approximately $34,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $124.41 on Friday. The stock’s 50 day moving average is $124.68 and its 200 day moving average is $111.96. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. Howmet Aerospace Inc. has a twelve month low of $62.80 and a twelve month high of $140.55. The company has a market capitalization of $50.39 billion, a P/E ratio of 44.12, a PEG ratio of 1.92 and a beta of 1.54.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. On average, equities research analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.32%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Susquehanna increased their target price on Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research report on Thursday, November 7th. Morgan Stanley increased their target price on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada increased their target price on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $123.28.

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.