Howmet Aerospace (NYSE:HWM) Sets New 12-Month High – Here’s What Happened

Howmet Aerospace Inc. (NYSE:HWM)’s share price hit a new 52-week high on Tuesday . The company traded as high as $128.95 and last traded at $126.95, with a volume of 11484 shares. The stock had previously closed at $125.30.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. KeyCorp cut Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased 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. UBS Group increased their price objective on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. 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 report on Monday, October 21st. Finally, Robert W. Baird increased their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Howmet Aerospace Price Performance

The business has a 50-day moving average price of $115.26 and a 200 day moving average price of $102.51. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 48.35, a P/E/G ratio of 1.41 and a beta of 1.49. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

Institutional Investors Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of HWM. AE Wealth Management LLC acquired a new stake in shares of Howmet Aerospace during the 2nd quarter valued at $265,000. Public Sector Pension Investment Board lifted its holdings in shares of Howmet Aerospace by 67.8% in the second quarter. Public Sector Pension Investment Board now owns 14,955 shares of the company’s stock valued at $1,161,000 after purchasing an additional 6,045 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Howmet Aerospace by 25.8% in the second quarter. Bank of Montreal Can now owns 572,029 shares of the company’s stock valued at $45,848,000 after purchasing an additional 117,437 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Howmet Aerospace by 5.0% in the second quarter. Xponance Inc. now owns 54,774 shares of the company’s stock valued at $4,252,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Howmet Aerospace in the second quarter valued at $18,922,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

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.