KLP Kapitalforvaltning AS Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

KLP Kapitalforvaltning AS purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) during the fourth quarter, HoldingsChannel reports. The fund purchased 342,244 shares of the company’s stock, valued at approximately $37,431,000.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Howmet Aerospace in the fourth quarter valued at $26,000. Washington Trust Advisors Inc. acquired a new stake in Howmet Aerospace in the 4th quarter valued at about $29,000. Global Trust Asset Management LLC purchased a new position in Howmet Aerospace during the 4th quarter valued at about $33,000. Hanson & Doremus Investment Management acquired a new position in Howmet Aerospace during the fourth quarter worth about $34,000. Finally, ORG Partners LLC purchased a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $44,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on HWM shares. Wells Fargo & Company lifted their price objective 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. increased their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Barclays boosted their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group raised their price target 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. Finally, Morgan Stanley boosted their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $123.28.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $130.70 on Friday. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The company has a market cap of $52.94 billion, a PE ratio of 46.35, a P/E/G ratio of 1.92 and a beta of 1.54. The company’s fifty day simple moving average is $128.09 and its 200-day simple moving average is $114.31. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55.

Howmet Aerospace (NYSE:HWM) last announced 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. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. As a group, equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced 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 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%.

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.