Howmet Aerospace (NYSE:HWM) Shares Gap Up to $16.22

Howmet Aerospace (NYSE:HWM) gapped up before the market opened on Tuesday . The stock had previously closed at $16.66, but opened at $16.22. Howmet Aerospace shares last traded at $16.02, with a volume of 84,270 shares trading hands.

A number of brokerages have commented on HWM. Zacks Investment Research cut shares of Howmet Aerospace from a “buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Credit Suisse Group reiterated an “outperform” rating and set a $22.00 price target on shares of Howmet Aerospace in a research report on Friday. Finally, Cowen began coverage on shares of Howmet Aerospace in a research report on Tuesday, May 5th. They set a “hold” rating and a $14.00 price target on the stock.

The company has a quick ratio of 1.08, a current ratio of 1.69 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average is $13.64. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 14.19 and a beta of 1.61.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, May 5th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.13. Howmet Aerospace had a net margin of 3.59% and a return on equity of 22.09%. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.36 billion. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Howmet Aerospace will post 0.53 EPS for the current year.

Several institutional investors have recently modified their holdings of HWM. Canyon Capital Advisors LLC bought a new position in shares of Howmet Aerospace in the first quarter worth approximately $91,597,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Howmet Aerospace in the first quarter worth approximately $24,156,000. California Public Employees Retirement System bought a new position in shares of Howmet Aerospace in the first quarter worth approximately $13,879,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Howmet Aerospace in the first quarter worth approximately $10,740,000. Finally, Squarepoint Ops LLC bought a new position in shares of Howmet Aerospace in the first quarter worth approximately $8,311,000. Hedge funds and other institutional investors own 84.26% of the company’s stock.

About Howmet Aerospace (NYSE:HWM)

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries. It offers jet engine components, aerospace fastening systems, and titanium structural parts for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation.

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