Howmet Aerospace (NYSE:HWM) Sets New 52-Week High – Still a Buy?

Howmet Aerospace Inc. (NYSE:HWM) hit a new 52-week high during trading on Wednesday . The stock traded as high as $110.35 and last traded at $109.39, with a volume of 50850 shares. The stock had previously closed at $102.16.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HWM. Royal Bank of Canada upped their price target on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays upped their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BTIG Research raised their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Susquehanna upped their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Sanford C. Bernstein increased their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.75.

Howmet Aerospace Price Performance

The firm has a market capitalization of $46.39 billion, a P/E ratio of 50.21, a PEG ratio of 1.45 and a beta of 1.46. The business’s 50-day simple moving average is $100.04 and its 200 day simple moving average is $88.92. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is presently 14.16%.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Cultivar Capital Inc. bought a new position in shares of Howmet Aerospace during the second quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new position in Howmet Aerospace during the 3rd quarter valued at approximately $26,000. LGT Financial Advisors LLC raised its stake in Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after buying an additional 262 shares during the last quarter. Hollencrest Capital Management purchased a new position in Howmet Aerospace during the third quarter valued at $30,000. Finally, Rothschild Investment LLC bought a new stake in Howmet Aerospace in the second quarter worth $32,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.