Sheets Smith Investment Management Makes New $1.67 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

Sheets Smith Investment Management bought a new position in Howmet Aerospace Inc. (NYSE:HWM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,230 shares of the company’s stock, valued at approximately $1,666,000. Howmet Aerospace accounts for approximately 1.4% of Sheets Smith Investment Management’s portfolio, making the stock its 20th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA grew its stake in shares of Howmet Aerospace by 28.0% during the 4th quarter. Private Trust Co. NA now owns 407 shares of the company’s stock valued at $45,000 after buying an additional 89 shares during the period. O Neil Global Advisors Inc. grew its stake in shares of Howmet Aerospace by 0.5% during the 4th quarter. O Neil Global Advisors Inc. now owns 19,527 shares of the company’s stock valued at $2,136,000 after buying an additional 90 shares during the period. Brooklyn Investment Group grew its stake in shares of Howmet Aerospace by 6.1% during the 4th quarter. Brooklyn Investment Group now owns 1,678 shares of the company’s stock valued at $183,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of Howmet Aerospace by 0.7% during the 4th quarter. Frank Rimerman Advisors LLC now owns 15,035 shares of the company’s stock valued at $1,644,000 after buying an additional 100 shares during the period. Finally, Guyasuta Investment Advisors Inc. grew its stake in shares of Howmet Aerospace by 1.4% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 7,662 shares of the company’s stock valued at $838,000 after buying an additional 104 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Truist Financial restated a “buy” rating and set a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays lifted their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $130.70 on Monday. The firm has a market cap of $52.94 billion, a PE ratio of 46.35, a price-to-earnings-growth ratio of 1.92 and a beta of 1.54. The firm’s 50-day simple moving average is $128.09 and its 200-day simple moving average is $114.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. Howmet Aerospace Inc. has a 1 year low of $62.80 and a 1 year high of $140.55.

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

Howmet Aerospace Increases Dividend

The business 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is 14.18%.

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.