Howmet Aerospace (NYSE:HWM) Issues Earnings Results, Beats Estimates By $0.02 EPS

Howmet Aerospace (NYSE:HWMGet Rating) released its earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02, Briefing.com reports. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Howmet Aerospace had a net margin of 6.07% and a return on equity of 13.73%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share.

Howmet Aerospace Stock Performance

HWM stock traded down $0.05 during trading hours on Friday, reaching $37.06. The stock had a trading volume of 1,792,294 shares, compared to its average volume of 2,914,620. The stock has a 50-day simple moving average of $33.95 and a 200 day simple moving average of $34.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.22 and a quick ratio of 1.04. The stock has a market capitalization of $15.49 billion, a PE ratio of 51.47 and a beta of 1.59. Howmet Aerospace has a fifty-two week low of $27.41 and a fifty-two week high of $38.07.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Friday, August 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, August 4th. Howmet Aerospace’s dividend payout ratio is currently 11.11%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of Howmet Aerospace in a research report on Wednesday, July 6th. They issued a “buy” rating and a $41.00 target price for the company. KeyCorp decreased their target price on shares of Howmet Aerospace from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Benchmark raised shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, July 8th. Finally, Argus raised their target price on shares of Howmet Aerospace from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, June 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.57.

Insider Transactions at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 63,304 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $36.31, for a total transaction of $2,298,568.24. Following the completion of the sale, the chief financial officer now owns 382,379 shares in the company, valued at approximately $13,884,181.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Howmet Aerospace

Hedge funds have recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. lifted its stake in shares of Howmet Aerospace by 41.8% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 13,083 shares of the company’s stock worth $470,000 after buying an additional 3,858 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Howmet Aerospace during the first quarter worth about $460,000. Dai Ichi Life Insurance Company Ltd increased its position in Howmet Aerospace by 50.3% during the first quarter. Dai Ichi Life Insurance Company Ltd now owns 11,960 shares of the company’s stock worth $430,000 after acquiring an additional 4,000 shares during the period. Captrust Financial Advisors increased its position in Howmet Aerospace by 6.3% during the first quarter. Captrust Financial Advisors now owns 11,389 shares of the company’s stock worth $409,000 after acquiring an additional 677 shares during the period. Finally, Mariner LLC bought a new position in Howmet Aerospace during the first quarter worth about $385,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Howmet Aerospace Company Profile

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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.

Further Reading

Earnings History for Howmet Aerospace (NYSE:HWM)

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