State of Michigan Retirement System Decreases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

State of Michigan Retirement System cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,245 shares of the company’s stock after selling 900 shares during the period. State of Michigan Retirement System’s holdings in Howmet Aerospace were worth $12,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HWM. Robeco Institutional Asset Management B.V. increased its stake in Howmet Aerospace by 45.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 196,248 shares of the company’s stock valued at $19,674,000 after purchasing an additional 61,543 shares in the last quarter. National Pension Service increased its position in shares of Howmet Aerospace by 19.0% in the third quarter. National Pension Service now owns 619,076 shares of the company’s stock valued at $62,062,000 after buying an additional 98,889 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Howmet Aerospace by 18.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 186,542 shares of the company’s stock worth $18,701,000 after buying an additional 28,856 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Howmet Aerospace by 13.1% in the 3rd quarter. QRG Capital Management Inc. now owns 6,186 shares of the company’s stock worth $620,000 after buying an additional 718 shares in the last quarter. Finally, United Advisor Group LLC acquired a new stake in Howmet Aerospace in the 3rd quarter valued at about $553,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

HWM opened at $130.38 on Thursday. Howmet Aerospace Inc. has a 1 year low of $62.80 and a 1 year high of $140.55. The company’s 50 day simple moving average is $124.44 and its 200 day simple moving average is $111.87. The stock has a market capitalization of $52.81 billion, a PE ratio of 46.23, a P/E/G ratio of 1.92 and a beta of 1.54. 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 (NYSE:HWM) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.89 billion during 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, sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm 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 of this dividend was Friday, February 7th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HWM shares. UBS Group lifted their target price on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price target on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Bank of America increased their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average target price of $123.28.

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.