Cullen Investment Group LTD. Purchases Shares of 12,981 Howmet Aerospace Inc. (NYSE:HWM)

Cullen Investment Group LTD. purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,981 shares of the company’s stock, valued at approximately $703,000.

A number of other institutional investors have also recently added to or reduced their stakes in HWM. US Bancorp DE grew its position in Howmet Aerospace by 9.7% during the first quarter. US Bancorp DE now owns 20,717 shares of the company’s stock valued at $745,000 after acquiring an additional 1,834 shares during the period. HighTower Advisors LLC grew its position in Howmet Aerospace by 299.5% during the first quarter. HighTower Advisors LLC now owns 31,892 shares of the company’s stock valued at $1,147,000 after acquiring an additional 23,910 shares during the period. Panagora Asset Management Inc. grew its position in Howmet Aerospace by 2.2% during the first quarter. Panagora Asset Management Inc. now owns 31,230 shares of the company’s stock valued at $1,122,000 after acquiring an additional 663 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Howmet Aerospace by 5.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,781 shares of the company’s stock worth $1,825,000 after buying an additional 2,520 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Howmet Aerospace by 4.0% in the first quarter. APG Asset Management N.V. now owns 20,900 shares of the company’s stock worth $675,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Trading Down 0.8 %

Shares of NYSE HWM opened at $63.48 on Tuesday. The stock’s 50 day moving average price is $65.33 and its two-hundred day moving average price is $56.07. Howmet Aerospace Inc. has a 52-week low of $42.17 and a 52-week high of $69.55. The stock has a market capitalization of $25.92 billion, a P/E ratio of 34.69, a PEG ratio of 1.67 and a beta of 1.43. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Howmet Aerospace’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, analysts anticipate that Howmet Aerospace Inc. will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s payout ratio is currently 10.93%.

Wall Street Analyst Weigh In

HWM has been the subject of several analyst reports. Robert W. Baird upped their target price on Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. KeyCorp upped their target price on Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Truist Financial raised Howmet Aerospace from a “hold” rating to a “buy” rating and upped their target price for the stock from $47.00 to $74.00 in a research report on Wednesday, January 10th. Finally, Sanford C. Bernstein started coverage on Howmet Aerospace in a research report on Friday, January 5th. They issued an “outperform” rating and a $67.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.08.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the sale, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is currently owned by insiders.

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.