Lazard Asset Management LLC cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 19.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,981 shares of the company’s stock after selling 1,941 shares during the quarter. Lazard Asset Management LLC’s holdings in Howmet Aerospace were worth $275,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Anomaly Capital Management LP purchased a new position in Howmet Aerospace in the 1st quarter valued at about $15,348,000. Scopus Asset Management L.P. purchased a new position in Howmet Aerospace in the 1st quarter worth approximately $20,017,000. Janus Henderson Group PLC lifted its stake in Howmet Aerospace by 4,948.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,735,839 shares of the company’s stock worth $184,291,000 after purchasing an additional 5,622,234 shares in the last quarter. Axiom Investment Management LLC purchased a new position in Howmet Aerospace in the 1st quarter worth approximately $283,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Howmet Aerospace by 69.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,887 shares of the company’s stock worth $38,553,000 after purchasing an additional 491,340 shares in the last quarter. 90.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on HWM. Zacks Investment Research upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, August 6th. KeyCorp cut their price target on shares of Howmet Aerospace from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, September 28th. Finally, UBS Group began coverage on shares of Howmet Aerospace in a report on Monday, September 27th. They set a “buy” rating and a $40.00 price target for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $34.27.
NYSE:HWM opened at $31.35 on Thursday. The company has a fifty day simple moving average of $31.83 and a two-hundred day simple moving average of $32.70. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 46.79 and a beta of 1.93. The company has a quick ratio of 1.09, a current ratio of 2.28 and a debt-to-equity ratio of 1.19. Howmet Aerospace Inc. has a 52 week low of $16.57 and a 52 week high of $36.03.
Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported $0.22 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. Howmet Aerospace had a net margin of 6.20% and a return on equity of 8.41%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share. On average, analysts expect that Howmet Aerospace Inc. will post 1 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 25th. Shareholders of record on Friday, August 6th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.26%. Howmet Aerospace’s dividend payout ratio (DPR) is 10.00%.
Howmet Aerospace Profile
Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.
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