Canada Post Corp Registered Pension Plan Acquires Shares of 6,592 Howmet Aerospace Inc. (NYSE:HWM)

Canada Post Corp Registered Pension Plan bought a new position in Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,592 shares of the company’s stock, valued at approximately $721,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Howmet Aerospace during the third quarter valued at $292,000. Sanctuary Advisors LLC raised its stake in shares of Howmet Aerospace by 49.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,460 shares of the company’s stock worth $2,953,000 after purchasing an additional 9,707 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Howmet Aerospace by 45.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,397 shares of the company’s stock worth $742,000 after purchasing an additional 2,324 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Howmet Aerospace by 60.0% during the 3rd quarter. Tidal Investments LLC now owns 56,490 shares of the company’s stock valued at $5,663,000 after buying an additional 21,176 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Howmet Aerospace by 58.0% in the 3rd quarter. Franklin Resources Inc. now owns 570,476 shares of the company’s stock valued at $58,559,000 after buying an additional 209,492 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HWM shares. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. 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 research note on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Morgan Stanley boosted their price target on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group increased their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.50.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $124.44 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The firm’s 50-day moving average is $128.70 and its 200-day moving average is $118.39. Howmet Aerospace Inc. has a 52-week low of $62.80 and a 52-week high of $140.55. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 44.13, a PEG ratio of 1.92 and a beta of 1.25.

Howmet Aerospace (NYSE:HWM) last posted its quarterly 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 firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio is currently 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.