7,635 Howmet Aerospace Inc. $HWM Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 53.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,006 shares of the company’s stock after buying an additional 7,635 shares during the quarter. Cornerstone Advisors LLC’s holdings in Howmet Aerospace were worth $4,977,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Howmet Aerospace during the 2nd quarter valued at about $12,318,939,000. State Street Corp boosted its stake in Howmet Aerospace by 3.3% during the second quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after acquiring an additional 612,866 shares in the last quarter. Bank of America Corp DE purchased a new stake in Howmet Aerospace in the second quarter worth about $2,766,806,000. Jupiter Topco LLC purchased a new stake in Howmet Aerospace in the second quarter worth about $2,065,086,000. Finally, Bank of New York Mellon Corp purchased a new stake in Howmet Aerospace in the second quarter worth about $1,099,765,000. 90.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HWM. Royal Bank Of Canada lowered their target price on shares of Howmet Aerospace from $350.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Deutsche Bank boosted their price target on Howmet Aerospace from $338.00 to $343.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Susquehanna cut their price target on Howmet Aerospace from $340.00 to $275.00 and set a “positive” rating on the stock in a research note on Friday, October 30th. BNP Paribas Exane reduced their price objective on Howmet Aerospace from $310.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Finally, Citigroup reiterated a “buy” rating on shares of Howmet Aerospace in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus target price of $295.81.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $220.72 on Friday. Howmet Aerospace Inc. has a one year low of $183.52 and a one year high of $310.00. The company’s 50-day moving average is $219.89 and its 200 day moving average is $248.29. The company has a market capitalization of $87.77 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.90 and a current ratio of 1.86.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, October 29th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.09. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. Sell-side analysts expect that Howmet Aerospace Inc. will post 5.49 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. Howmet Aerospace’s dividend payout ratio (DPR) is 10.96%.

Howmet Aerospace Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.