KLP Kapitalforvaltning AS Makes New $37.43 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

KLP Kapitalforvaltning AS purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 342,244 shares of the company’s stock, valued at approximately $37,431,000. KLP Kapitalforvaltning AS owned approximately 0.08% of Howmet Aerospace as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of HWM. Marietta Investment Partners LLC raised its position in Howmet Aerospace by 29.8% during the 4th quarter. Marietta Investment Partners LLC now owns 36,956 shares of the company’s stock valued at $4,042,000 after purchasing an additional 8,494 shares in the last quarter. Forefront Wealth Management Inc. bought a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $2,312,000. Sei Investments Co. lifted its stake in Howmet Aerospace by 82.4% in the fourth quarter. Sei Investments Co. now owns 1,106,586 shares of the company’s stock worth $121,026,000 after acquiring an additional 499,978 shares during the period. American Century Companies Inc. grew its holdings in Howmet Aerospace by 4.4% during the 4th quarter. American Century Companies Inc. now owns 2,488,286 shares of the company’s stock worth $272,144,000 after acquiring an additional 104,694 shares in the last quarter. Finally, Vestor Capital LLC purchased a new stake in Howmet Aerospace during the fourth quarter worth $4,293,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HWM shares. Truist Financial reissued a “buy” rating and set a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Wells Fargo & Company lifted their price target on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays increased their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Performance

Shares of HWM opened at $130.70 on Friday. Howmet Aerospace Inc. has a 1 year low of $62.80 and a 1 year high of $140.55. The stock has a market capitalization of $52.94 billion, a P/E ratio of 46.35, 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. The company’s fifty day moving average is $128.09 and its two-hundred day moving average is $114.31.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend 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 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.