Mystic Asset Management Inc. Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

Mystic Asset Management Inc. acquired a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,999 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds also recently bought and sold shares of HWM. Assetmark Inc. boosted its holdings in Howmet Aerospace by 40.0% in the 3rd quarter. Assetmark Inc. now owns 441 shares of the company’s stock worth $44,000 after buying an additional 126 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Howmet Aerospace by 2.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,260 shares of the company’s stock worth $527,000 after buying an additional 124 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Howmet Aerospace by 2.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 50,266 shares of the company’s stock worth $5,039,000 after buying an additional 1,343 shares during the period. Claro Advisors LLC bought a new position in Howmet Aerospace in the 3rd quarter worth $363,000. Finally, Quest Partners LLC boosted its holdings in Howmet Aerospace by 94.9% in the 3rd quarter. Quest Partners LLC now owns 1,405 shares of the company’s stock worth $141,000 after buying an additional 684 shares during the period. Institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HWM shares. Morgan Stanley upped their target price 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. Truist Financial reiterated a “buy” rating and issued a $140.00 price target (up previously from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Barclays boosted their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group boosted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Down 0.7 %

Shares of NYSE HWM opened at $128.32 on Wednesday. The firm’s 50-day moving average price is $127.06 and its 200-day moving average price is $113.83. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $51.97 billion, a price-to-earnings ratio of 45.50, a P/E/G ratio of 1.92 and a beta of 1.54. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55.

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

Howmet Aerospace Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 0.31%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio is presently 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.